Sit Investment Associates Inc. Sells 281,598 Shares of Putnam Managed $PMM

Sit Investment Associates Inc. reduced its position in Putnam Managed (NYSE:PMM) by 56.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 221,351 shares of the company’s stock after selling 281,598 shares during the period. Sit Investment Associates Inc. owned 0.48% of Putnam Managed worth $1,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Putnam Managed in the fourth quarter valued at about $36,000. Nomura Holdings Inc. acquired a new position in Putnam Managed during the 2nd quarter valued at about $60,000. Mesirow Financial Investment Management Inc. acquired a new position in Putnam Managed during the 4th quarter valued at about $63,000. UMB Bank n.a. bought a new position in shares of Putnam Managed in the 4th quarter valued at about $70,000. Finally, Virtu Financial LLC bought a new position in shares of Putnam Managed in the 3rd quarter valued at about $69,000. Institutional investors own 13.54% of the company’s stock.

Putnam Managed Price Performance

PMM opened at $6.36 on Friday. The firm has a 50 day simple moving average of $6.24 and a 200 day simple moving average of $6.24. Putnam Managed has a fifty-two week low of $5.77 and a fifty-two week high of $6.52.

Putnam Managed Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a dividend of $0.033 per share. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Monday, August 24th.

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.