Bank of America Corp DE Cuts Holdings in Putnam Managed Municipal Income Trust (PIM)

Bank of America Corp DE decreased its holdings in shares of Putnam Managed Municipal Income Trust (NYSE:PIM) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,596 shares of the company’s stock after selling 38,162 shares during the quarter. Bank of America Corp DE owned approximately 0.51% of Putnam Managed Municipal Income Trust worth $1,150,000 at the end of the most recent reporting period.

Separately, Raymond James & Associates lifted its holdings in Putnam Managed Municipal Income Trust by 8.2% during the 4th quarter. Raymond James & Associates now owns 71,127 shares of the company’s stock valued at $302,000 after purchasing an additional 5,378 shares during the last quarter. 24.97% of the stock is currently owned by hedge funds and other institutional investors.

PIM opened at $4.52 on Friday. Putnam Managed Municipal Income Trust has a fifty-two week low of $4.06 and a fifty-two week high of $4.80.

The company also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 24th will be issued a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 7.96%. The ex-dividend date of this dividend is Thursday, May 23rd.

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Putnam Managed Municipal Income Trust Profile

Putnam Master Intermediate Income Trust is a closed ended fixed income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.

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Institutional Ownership by Quarter for Putnam Managed Municipal Income Trust (NYSE:PIM)

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