Sit Investment Associates Inc. Raises Position in Putnam Managed (NYSE:PMM)

Sit Investment Associates Inc. boosted its stake in Putnam Managed (NYSE:PMM) by 130.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 515,349 shares of the company’s stock after buying an additional 292,037 shares during the quarter. Sit Investment Associates Inc.’s holdings in Putnam Managed were worth $3,159,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PMM. Raymond James Financial Inc. purchased a new position in shares of Putnam Managed during the fourth quarter valued at approximately $2,720,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Putnam Managed during the first quarter valued at approximately $1,587,000. Guggenheim Capital LLC lifted its holdings in shares of Putnam Managed by 20.4% during the fourth quarter. Guggenheim Capital LLC now owns 712,551 shares of the company’s stock valued at $4,254,000 after purchasing an additional 120,948 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Putnam Managed by 71.3% during the first quarter. Invesco Ltd. now owns 168,686 shares of the company’s stock valued at $1,034,000 after purchasing an additional 70,191 shares during the last quarter. Finally, Advisor Resource Council purchased a new position in shares of Putnam Managed during the first quarter valued at approximately $406,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Trading Up 0.4%

PMM stock opened at $5.92 on Friday. The firm has a 50 day moving average price of $5.89 and a 200-day moving average price of $6.01. Putnam Managed has a 52-week low of $5.66 and a 52-week high of $6.61.

Putnam Managed Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $0.0265 per share. This represents a dividend yield of 537.0%. The ex-dividend date is Monday, August 18th.

Putnam Managed Company Profile

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.