Joseph P. Lucia & Associates LLC Decreases Stock Holdings in Putnam Managed Municipal Income Trust (NYSE:PMM)

Joseph P. Lucia & Associates LLC lowered its stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,260 shares of the company’s stock after selling 4,826 shares during the period. Joseph P. Lucia & Associates LLC’s holdings in Putnam Managed Municipal Income Trust were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PMM. Captrust Financial Advisors purchased a new stake in Putnam Managed Municipal Income Trust during the second quarter worth about $26,000. Farther Finance Advisors LLC purchased a new stake in Putnam Managed Municipal Income Trust during the second quarter worth about $38,000. Quarry LP purchased a new stake in Putnam Managed Municipal Income Trust during the second quarter worth about $49,000. International Assets Investment Management LLC purchased a new stake in Putnam Managed Municipal Income Trust during the third quarter worth about $50,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Putnam Managed Municipal Income Trust during the third quarter worth about $55,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Performance

Shares of PMM opened at $5.96 on Friday. The company has a 50-day moving average of $6.09 and a two-hundred day moving average of $5.87. 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 Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 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 4.79%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Putnam Managed Municipal Income Trust 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.