Kennedy Investment Group Sells 161,315 Shares of Putnam Managed $PMM

Kennedy Investment Group reduced its position in Putnam Managed (NYSE:PMM) by 91.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,748 shares of the company’s stock after selling 161,315 shares during the quarter. Kennedy Investment Group’s holdings in Putnam Managed were worth $92,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Putnam Managed during the fourth quarter worth $36,000. WealthCare Investment Partners LLC purchased a new stake in Putnam Managed during the third quarter worth $61,000. Nomura Holdings Inc. purchased a new stake in Putnam Managed during the second quarter worth $60,000. Mesirow Financial Investment Management Inc. purchased a new stake in Putnam Managed during the fourth quarter worth $63,000. Finally, Virtu Financial LLC purchased a new stake in Putnam Managed during the third quarter worth $69,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Stock Performance

Putnam Managed stock opened at $6.18 on Wednesday. The business has a fifty day moving average of $6.20 and a two-hundred day moving average of $6.21. Putnam Managed has a twelve month low of $5.77 and a twelve month high of $6.52.

Putnam Managed Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued a $0.033 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Monday, August 24th.

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.