11,655 Shares in Putnam Managed Municipal Income Trust (NYSE:PMM) Bought by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC purchased a new position in Putnam Managed Municipal Income Trust (NYSE:PMM) during the 4th quarter, Holdings Channel.com reports. The firm purchased 11,655 shares of the company’s stock, valued at approximately $71,000.

Several other large investors also recently bought and sold shares of the business. Van ECK Associates Corp increased its position in Putnam Managed Municipal Income Trust by 17.4% in the third quarter. Van ECK Associates Corp now owns 296,478 shares of the company’s stock worth $1,622,000 after purchasing an additional 43,961 shares during the last quarter. Robinson Capital Management LLC bought a new stake in Putnam Managed Municipal Income Trust in the third quarter worth $1,496,000. Goodwin Daniel L increased its position in Putnam Managed Municipal Income Trust by 5.6% in the third quarter. Goodwin Daniel L now owns 132,912 shares of the company’s stock worth $727,000 after purchasing an additional 7,000 shares during the last quarter. Wolverine Asset Management LLC increased its position in Putnam Managed Municipal Income Trust by 356.4% in the third quarter. Wolverine Asset Management LLC now owns 74,763 shares of the company’s stock worth $409,000 after purchasing an additional 58,381 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in Putnam Managed Municipal Income Trust by 41.2% in the third quarter. Moors & Cabot Inc. now owns 60,000 shares of the company’s stock worth $328,000 after purchasing an additional 17,500 shares during the last quarter. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Performance

PMM remained flat at $5.84 during trading hours on Friday. 78,998 shares of the company traded hands, compared to its average volume of 86,904. The firm has a 50 day moving average of $6.04 and a 200-day moving average of $5.91. Putnam Managed Municipal Income Trust has a 12 month low of $5.00 and a 12 month high of $6.42.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 24th will be given a dividend of $0.0238 per share. This represents a $0.29 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Thursday, May 23rd.

About Putnam Managed Municipal Income Trust

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of tax-exempt municipal securities, including high-yield securities that are rated below investment grade.