Putnam Managed Municipal Income Trust Announces Monthly Dividend of $0.02 (NYSE:PMM)

Putnam Managed Municipal Income Trust (NYSE:PMM) announced a monthly dividend on Monday, March 25th, NASDAQ reports. Investors of record on Wednesday, April 24th will be paid a dividend of 0.0238 per share on Wednesday, May 1st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Tuesday, April 23rd.

Putnam Managed Municipal Income Trust has decreased its dividend by an average of 6.6% annually over the last three years.

Putnam Managed Municipal Income Trust Stock Performance

PMM opened at $5.90 on Friday. The stock’s fifty day moving average is $6.07 and its two-hundred day moving average is $5.89. Putnam Managed Municipal Income Trust has a 52 week low of $5.00 and a 52 week high of $6.42.

Hedge Funds Weigh In On Putnam Managed Municipal Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors bought a new stake in shares of Putnam Managed Municipal Income Trust in the second quarter valued at about $26,000. Quarry LP purchased a new position in Putnam Managed Municipal Income Trust during the 2nd quarter valued at about $49,000. Envestnet Asset Management Inc. purchased a new position in Putnam Managed Municipal Income Trust during the 3rd quarter valued at about $55,000. Kestra Advisory Services LLC bought a new stake in shares of Putnam Managed Municipal Income Trust in the 2nd quarter valued at about $61,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of Putnam Managed Municipal Income Trust in the 1st quarter worth approximately $61,000. Institutional investors own 13.54% of the company’s stock.

About Putnam Managed Municipal Income Trust

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.