Landscape Capital Management L.L.C. Lowers Stake in Putnam Managed Municipal Income Trust (NYSE:PMM)

Landscape Capital Management L.L.C. reduced its holdings in shares of Putnam Managed Municipal Income Trust (NYSE:PMM) by 70.9% during the 4th quarter, HoldingsChannel reports. The firm owned 13,731 shares of the company’s stock after selling 33,434 shares during the period. Landscape Capital Management L.L.C.’s holdings in Putnam Managed Municipal Income Trust were worth $82,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its stake 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 acquiring an additional 2,909 shares during the period. Virtu Financial LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the fourth quarter valued at about $66,000. Sanctuary Advisors LLC acquired a new stake in shares of Putnam Managed Municipal Income Trust in the third quarter valued at about $70,000. Noble Wealth Management PBC purchased a new stake in Putnam Managed Municipal Income Trust during the fourth quarter worth about $104,000. Finally, Thomas J. Herzfeld Advisors Inc. boosted its holdings in Putnam Managed Municipal Income Trust by 21.1% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 43,341 shares of the company’s stock worth $259,000 after buying an additional 7,543 shares in the last quarter. 13.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Putnam Managed Municipal Income Trust news, major shareholder Of America Corp /De/ Bank acquired 16,585 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $6.02 per share, with a total value of $99,841.70. Following the completion of the transaction, the insider now directly owns 16,585 shares of the company’s stock, valued at approximately $99,841.70. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.01% of the company’s stock.

Putnam Managed Municipal Income Trust Price Performance

PMM stock opened at $5.87 on Thursday. Putnam Managed Municipal Income Trust has a 52 week low of $5.66 and a 52 week high of $6.61. The company’s 50-day moving average price is $6.19 and its 200 day moving average price is $6.23.

Putnam Managed Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.0238 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Monday, March 17th.

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.