Kennedy Investment Group Sells 161,315 Shares of Putnam Managed $PMM

Kennedy Investment Group reduced its position in Putnam Managed (NYSE:PMM) by 91.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,748 shares of the company’s stock after selling 161,315 shares during the quarter. Kennedy Investment Group’s holdings in Putnam Managed were worth $92,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Putnam Managed during the 4th quarter worth $36,000. Nomura Holdings Inc. purchased a new position in Putnam Managed during the 2nd quarter worth $60,000. WealthCare Investment Partners LLC purchased a new position in Putnam Managed during the 3rd quarter worth $61,000. Mesirow Financial Investment Management Inc. purchased a new position in Putnam Managed during the 4th quarter worth $63,000. Finally, Virtu Financial LLC purchased a new position in Putnam Managed during the 3rd quarter worth $69,000. 13.54% of the stock is currently owned by institutional investors.

Putnam Managed Stock Performance

Shares of PMM stock opened at $6.18 on Wednesday. Putnam Managed has a 1-year low of $5.77 and a 1-year high of $6.52. The stock’s fifty day moving average price is $6.20 and its 200 day moving average price is $6.21.

Putnam Managed Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a dividend of $0.033 per share. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date is Monday, August 24th.

Putnam Managed 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.