Putnam Managed (PMM) to Issue Monthly Dividend of $0.03 on July 31st

Putnam Managed (NYSE:PMM) announced a monthly dividend on Thursday, May 14th. Shareholders of record on Friday, July 24th will be given a dividend of 0.033 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Friday, July 24th.

Putnam Managed Trading Down 0.8%

Putnam Managed stock opened at $6.50 on Wednesday. Putnam Managed has a 52-week low of $5.77 and a 52-week high of $6.60. The company’s 50 day moving average is $6.35 and its two-hundred day moving average is $6.28.

Institutional Trading of Putnam Managed

Hedge funds have recently modified their holdings of the stock. G2 Capital Management LLC OH acquired a new position in Putnam Managed during the 4th quarter worth $673,000. Hennion & Walsh Asset Management Inc. raised its position in Putnam Managed by 78.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,009,350 shares of the company’s stock valued at $6,329,000 after purchasing an additional 444,374 shares in the last quarter. Rivernorth Capital Management LLC acquired a new stake in Putnam Managed in the 4th quarter valued at about $1,722,000. Invesco Ltd. boosted its stake in shares of Putnam Managed by 23.1% in the 4th quarter. Invesco Ltd. now owns 417,901 shares of the company’s stock valued at $2,620,000 after buying an additional 78,533 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of Putnam Managed by 4.1% in the 3rd quarter. Raymond James Financial Inc. now owns 548,110 shares of the company’s stock valued at $3,311,000 after buying an additional 21,509 shares during the period. 13.54% of the stock is currently owned by institutional investors and hedge funds.

Putnam Managed Company Profile

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.