Putnam Managed $PMM Shares Bought by Robinson Capital Management LLC

Robinson Capital Management LLC grew its holdings in Putnam Managed (NYSE:PMM) by 34.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 423,151 shares of the company’s stock after purchasing an additional 108,212 shares during the period. Putnam Managed makes up 1.2% of Robinson Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Robinson Capital Management LLC owned 0.99% of Putnam Managed worth $2,767,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Putnam Managed in the fourth quarter valued at about $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Putnam Managed in the 4th quarter valued at approximately $45,000. Nomura Holdings Inc. acquired a new position in shares of Putnam Managed in the 2nd quarter worth approximately $60,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of Putnam Managed in the 4th quarter worth approximately $63,000. Finally, UMB Bank n.a. purchased a new position in shares of Putnam Managed during the 4th quarter worth approximately $70,000. 13.54% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Managed Trading Down 0.7%

Putnam Managed stock opened at $6.04 on Thursday. Putnam Managed has a fifty-two week low of $5.91 and a fifty-two week high of $6.60. The firm has a 50 day moving average price of $6.34 and a 200 day moving average price of $6.28.

Putnam Managed Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a dividend of $0.033 per share. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Friday, November 20th.

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.