Putnam Managed (NYSE:PMM – Get Free Report) announced a monthly dividend on Wednesday, August 5th. Stockholders of record on Wednesday, September 23rd will be paid a dividend of 0.033 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, September 23rd.
Putnam Managed Stock Performance
PMM stock opened at $6.29 on Thursday. Putnam Managed has a 52 week low of $5.77 and a 52 week high of $6.60. The company’s 50-day simple moving average is $6.37 and its 200 day simple moving average is $6.29.
Institutional Investors Weigh In On Putnam Managed
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in Putnam Managed in the 4th quarter valued at $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Putnam Managed in the fourth quarter valued at about $45,000. Nomura Holdings Inc. acquired a new position in Putnam Managed in the second quarter valued at about $60,000. Mesirow Financial Investment Management Inc. bought a new stake in Putnam Managed during the fourth quarter worth about $63,000. Finally, Virtu Financial LLC acquired a new stake in Putnam Managed during the third quarter worth about $69,000. 13.54% of the stock is currently owned by institutional investors and hedge funds.
About Putnam Managed
Putnam Managed Municipal Income Trust (NYSE: PMM) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The trust’s primary business activity is the active management of a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by U.S. states and municipalities. Using a flexible approach, PMM’s portfolio managers may also invest in below-investment-grade or unrated municipal securities, subject to quality restrictions, to enhance yield potential.
Established in September 1993, PMM has a long history of targeting tax-exempt income for its shareholders.
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