Putnam Managed (NYSE:PMM – Get Free Report) declared a monthly dividend on Monday, February 23rd. Investors of record on Tuesday, March 24th will be paid a dividend of 0.0265 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, March 24th.
Putnam Managed Trading Up 0.3%
PMM opened at $6.32 on Tuesday. Putnam Managed has a one year low of $5.66 and a one year high of $6.44. The business’s 50-day simple moving average is $6.25 and its 200-day simple moving average is $6.12.
Hedge Funds Weigh In On Putnam Managed
A number of hedge funds and other institutional investors have recently made changes to their positions in PMM. International Assets Investment Management LLC purchased a new stake in Putnam Managed during the 4th quarter valued at approximately $36,000. Nomura Holdings Inc. acquired a new position in shares of Putnam Managed in the second quarter valued at approximately $60,000. WealthCare Investment Partners LLC purchased a new stake in shares of Putnam Managed during the third quarter worth approximately $61,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Putnam Managed during the fourth quarter worth $63,000. Finally, Virtu Financial LLC purchased a new position in Putnam Managed in the 3rd quarter valued at $69,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.
About Putnam Managed
Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.
Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.
Further Reading
- Five stocks we like better than Putnam Managed
- Elon Musk already made me a “wealthy man”
- SELL Alert: Oracle Corporation (ORCL)
- Elon’s Secret AI Partner?
- Silver $500? The “Deficit Math” says it’s possible.
- Elon Musk: This Could Turn $100 into $100,000
Receive News & Ratings for Putnam Managed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Putnam Managed and related companies with MarketBeat.com's FREE daily email newsletter.
