Of America Corp /De/ Bank Acquires Shares of Putnam Managed Municipal Income Trust

On January 10th, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of Putnam Managed Municipal Income Trust (NYSE:PMM). The transaction took place at an average price of $6.02 per share, totaling approximately $99,841.70. Following this purchase, the shareholder now holds a total of 16,585 shares in the trust, with a similar valuation of around $99,841.70. This acquisition marks a significant increase in their position within the company.

Performance of Putnam Managed Municipal Income Trust

During midday trading on Tuesday, shares of Putnam Managed Municipal Income Trust remained stable at $6.00. A total of 187,204 shares changed hands, slightly above its average volume of 170,483 shares. Over the past year, the stock reached a low of $5.82 and a high of $6.61. Currently, it has a 50-day moving average price of $6.19 and a 200-day moving average price of $6.29.

Dividend Announcement by Putnam Managed Municipal Income Trust

Recently, the company announced a monthly dividend, scheduled to be paid on February 3rd. Shareholders on record as of January 24th will receive a dividend of $0.0238. The ex-dividend date is also set for January 24th. This gives an annual dividend yield of about 4.76%, translating to approximately $0.29 annually.

Institutional Investments in Putnam Managed Municipal Income Trust

Several institutional investors have been active recently, buying and selling shares of this trust. Ashton Thomas Securities LLC entered a new stake valued at $25,000 in the third quarter. Sanctuary Advisors LLC and Ackerman Capital Advisors LLC both established new positions valued at around $70,000. Concurrent Investment Advisors LLC increased its stakes by 6.4%, owning 28,647 shares worth $186,000 after adding 1,728 shares in the last quarter. Clear Creek Financial Management LLC also raised its holdings by 21.2% during the same period, bringing its total ownership to 34,350 shares valued at $224,000. In total, institutional investors control 13.54% of the company's shares.

About Putnam Managed Municipal Income Trust

Putnam Managed Municipal Income Trust is a closed-end fixed income mutual fund operated by Putnam Investment Management LLC. The fund focuses on the United States fixed income markets and mainly invests in a diversified portfolio of tax-exempt municipal securities, including those rated below investment grade.

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Is It Time to Invest in Putnam Managed Municipal Income Trust?

Potential investors should consider various factors before investing in Putnam Managed Municipal Income Trust.

Market analysts frequently track the best-performing stocks and maintain lists of their top recommendations. Currently, the trust holds a "Hold" rating, with many analysts suggesting other stocks that may present better opportunities.

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