Putnam Managed (PMM) to Issue Monthly Dividend of $0.03 on October 30th

Putnam Managed (NYSE:PMM) announced a monthly dividend on Wednesday, August 5th. Stockholders of record on Friday, October 23rd will be given a dividend of 0.033 per share on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, October 23rd.

Putnam Managed Trading Up 0.6%

Shares of Putnam Managed stock opened at $6.29 on Friday. Putnam Managed has a one year low of $5.77 and a one year high of $6.60. The company has a 50-day simple moving average of $6.38 and a two-hundred day simple moving average of $6.29.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its stake in shares of Putnam Managed by 41.1% during the first quarter. NewEdge Advisors LLC now owns 34,381 shares of the company’s stock worth $211,000 after acquiring an additional 10,014 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Putnam Managed by 55.0% during the second quarter. Invesco Ltd. now owns 261,413 shares of the company’s stock worth $1,563,000 after buying an additional 92,727 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Putnam Managed by 11.8% during the second quarter. Raymond James Financial Inc. now owns 526,601 shares of the company’s stock valued at $3,149,000 after buying an additional 55,674 shares during the last quarter. Bank of America Corp DE increased its position in shares of Putnam Managed by 48.1% in the 2nd quarter. Bank of America Corp DE now owns 125,252 shares of the company’s stock valued at $749,000 after acquiring an additional 40,699 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in Putnam Managed in the 2nd quarter worth $60,000. 13.54% of the stock is owned by institutional investors and hedge funds.

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.