Gilliland Jeter Wealth Management LLC Takes $71,000 Position in Putnam Managed Municipal Income Trust (NYSE:PMM)

Gilliland Jeter Wealth Management LLC acquired a new stake in Putnam Managed Municipal Income Trust (NYSE:PMM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 11,655 shares of the company’s stock, valued at approximately $71,000.

Other institutional investors also recently made changes to their positions in the company. HTLF Bank purchased a new stake in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at $68,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust in the 3rd quarter valued at $62,000. Clear Creek Financial Management LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at $87,000. Tyche Wealth Partners LLC purchased a new stake in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at $242,000. Finally, Landscape Capital Management L.L.C. raised its holdings in Putnam Managed Municipal Income Trust by 6.7% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 40,376 shares of the company’s stock valued at $221,000 after buying an additional 2,519 shares during the last quarter. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Price Performance

NYSE:PMM remained flat at $5.84 during midday trading on Friday. 78,998 shares of the company were exchanged, compared to its average volume of 86,904. The business has a 50 day moving average of $6.04 and a two-hundred day moving average of $5.91. Putnam Managed Municipal Income Trust has a 52 week low of $5.00 and a 52 week high of $6.42.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 24th will be issued a dividend of $0.0238 per share. The ex-dividend date is Thursday, May 23rd. This represents a $0.29 dividend on an annualized basis and a yield of 4.89%.

Putnam Managed Municipal Income Trust 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.