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

Putnam Managed Municipal Income Trust (NYSE:PMM) declared a monthly dividend on Friday, March 7th, NASDAQ Dividends reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.0238 per share on Monday, March 31st. This represents a $0.29 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Monday, March 17th.

Putnam Managed Municipal Income Trust has decreased its dividend by an average of 6.9% per year over the last three years.

Putnam Managed Municipal Income Trust Price Performance

Shares of PMM stock traded down $0.04 during trading hours on Friday, hitting $6.20. 68,304 shares of the company’s stock traded hands, compared to its average volume of 142,007. The stock’s 50 day simple moving average is $6.18 and its 200 day simple moving average is $6.28. Putnam Managed Municipal Income Trust has a 12 month low of $5.82 and a 12 month high of $6.61.

Insider Activity

In other news, major shareholder Of America Corp /De/ Bank bought 16,585 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was acquired at an average price of $6.02 per share, with a total value of $99,841.70. Following the completion of the purchase, the insider now directly owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.01% of the company’s stock.

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.