Rothschild Investment LLC Sells 6,000 Shares of Putnam Managed Municipal Income Trust (NYSE:PMM)

Rothschild Investment LLC lowered its stake in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 2.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 247,067 shares of the company’s stock after selling 6,000 shares during the quarter. Rothschild Investment LLC’s holdings in Putnam Managed Municipal Income Trust were worth $1,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PMM. Ashton Thomas Securities LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust during the third quarter valued at about $25,000. Avior Wealth Management LLC grew its position in shares of Putnam Managed Municipal Income Trust by 235.9% in the 4th quarter. Avior Wealth Management LLC now owns 4,142 shares of the company’s stock worth $25,000 after buying an additional 2,909 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Putnam Managed Municipal Income Trust during the 3rd quarter worth approximately $70,000. Concurrent Investment Advisors LLC lifted its position in Putnam Managed Municipal Income Trust by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 28,647 shares of the company’s stock valued at $186,000 after acquiring an additional 1,728 shares during the last quarter. Finally, Clear Creek Financial Management LLC lifted its position in Putnam Managed Municipal Income Trust by 21.2% during the third quarter. Clear Creek Financial Management LLC now owns 34,350 shares of the company’s stock valued at $224,000 after acquiring an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Down 1.0 %

NYSE PMM opened at $6.29 on Tuesday. The firm’s fifty day simple moving average is $6.15 and its two-hundred day simple moving average is $6.29. Putnam Managed Municipal Income Trust has a 12-month low of $5.82 and a 12-month high of $6.61.

Putnam Managed Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 24th will be paid a dividend of $0.0238 per share. The ex-dividend date is Monday, February 24th. This represents a $0.29 annualized dividend and a yield of 4.54%.

Insider Activity at Putnam Managed Municipal Income Trust

In related 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 bought at an average cost of $6.02 per share, for a total transaction of $99,841.70. Following the purchase, the insider now directly owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.01% of the stock is currently owned by corporate insiders.

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.