Wolverine Asset Management LLC Sells 27,620 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM)

Wolverine Asset Management LLC lowered its position in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 21.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 99,993 shares of the company’s stock after selling 27,620 shares during the period. Wolverine Asset Management LLC’s holdings in Putnam Managed Municipal Income Trust were worth $597,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PMM. Concurrent Investment Advisors LLC boosted its stake in Putnam Managed Municipal Income Trust by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock valued at $186,000 after purchasing an additional 1,728 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Putnam Managed Municipal Income Trust by 235.9% during the fourth quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock valued at $25,000 after buying an additional 2,909 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Putnam Managed Municipal Income Trust in the 3rd quarter worth $25,000. Clear Creek Financial Management LLC boosted its position in shares of Putnam Managed Municipal Income Trust by 21.2% in the third quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock worth $224,000 after purchasing an additional 6,000 shares during the period. Finally, Ackerman Capital Advisors LLC bought a new position in shares of Putnam Managed Municipal Income Trust in the third quarter worth about $70,000. 13.54% of the stock is owned by institutional investors.

Insider Activity

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average cost of $6.02 per share, with a total value of $99,841.70. Following the purchase, the insider now owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust Trading Down 0.6 %

Shares of NYSE PMM opened at $6.33 on Monday. Putnam Managed Municipal Income Trust has a 52-week low of $5.82 and a 52-week high of $6.61. The firm’s fifty day moving average is $6.15 and its two-hundred day moving average is $6.29.

Putnam Managed Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 24th will be given a dividend of $0.0238 per share. This represents a $0.29 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, February 24th.

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.