Robinson Capital Management LLC Lowers Holdings in Putnam Managed Municipal Income Trust (NYSE:PMM)

Robinson Capital Management LLC reduced its holdings in Putnam Managed Municipal Income Trust (NYSE:PMM) by 18.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 316,401 shares of the company’s stock after selling 72,269 shares during the quarter. Putnam Managed Municipal Income Trust accounts for 0.8% of Robinson Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Robinson Capital Management LLC’s holdings in Putnam Managed Municipal Income Trust were worth $1,889,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PMM. Wolverine Asset Management LLC grew its stake in Putnam Managed Municipal Income Trust by 92.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock worth $831,000 after buying an additional 61,240 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Putnam Managed Municipal Income Trust by 554.5% during the 3rd quarter. International Assets Investment Management LLC now owns 61,446 shares of the company’s stock valued at $400,000 after buying an additional 52,058 shares during the last quarter. Raymond James & Associates grew its stake in shares of Putnam Managed Municipal Income Trust by 7.5% in the third quarter. Raymond James & Associates now owns 420,283 shares of the company’s stock worth $2,736,000 after purchasing an additional 29,456 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Putnam Managed Municipal Income Trust by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 341,484 shares of the company’s stock valued at $2,039,000 after buying an additional 11,828 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Putnam Managed Municipal Income Trust in the 3rd quarter worth $70,000. 13.54% of the stock is currently owned by institutional investors.

Putnam Managed Municipal Income Trust Stock Up 2.7 %

Putnam Managed Municipal Income Trust stock opened at $6.37 on Tuesday. Putnam Managed Municipal Income Trust has a fifty-two week low of $5.82 and a fifty-two week high of $6.61. The stock’s 50 day simple moving average is $6.15 and its two-hundred day simple moving average is $6.29.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 24th will be given a dividend of $0.0238 per share. The ex-dividend date is Monday, February 24th. This represents a $0.29 annualized dividend and a dividend yield of 4.48%.

Insider Buying and Selling

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were 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. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.01% of the stock is owned by insiders.

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.