Putnam Managed $PMM Shares Acquired by Robinson Capital Management LLC

Robinson Capital Management LLC grew its holdings in Putnam Managed (NYSE:PMM) by 34.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 423,151 shares of the company’s stock after purchasing an additional 108,212 shares during the quarter. Putnam Managed accounts for about 1.2% of Robinson Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Robinson Capital Management LLC’s holdings in Putnam Managed were worth $2,767,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PMM. International Assets Investment Management LLC purchased a new stake in Putnam Managed during the 4th quarter worth approximately $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Putnam Managed in the 4th quarter valued at approximately $45,000. Nomura Holdings Inc. purchased a new position in Putnam Managed in the 2nd quarter valued at approximately $60,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of Putnam Managed in the fourth quarter worth $63,000. Finally, UMB Bank n.a. purchased a new stake in shares of Putnam Managed during the fourth quarter worth $70,000. Institutional investors and hedge funds own 13.54% of the company’s stock.

Putnam Managed Stock Down 0.7%

Putnam Managed stock opened at $6.04 on Thursday. Putnam Managed has a twelve month low of $5.91 and a twelve month high of $6.60. The stock’s fifty day simple moving average is $6.34 and its 200-day simple moving average is $6.28.

Putnam Managed Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.033 per share. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a yield of 6.6%.

Putnam Managed Company Profile

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.