Rivernorth Capital Management LLC Has $662,000 Stock Holdings in Putnam Managed $PMM

Rivernorth Capital Management LLC decreased its position in Putnam Managed (NYSE:PMM) by 60.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 107,693 shares of the company’s stock after selling 167,027 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Putnam Managed were worth $662,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Putnam Managed in the 4th quarter valued at $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Putnam Managed in the fourth quarter valued at about $45,000. Nomura Holdings Inc. acquired a new position in Putnam Managed in the second quarter valued at about $60,000. Mesirow Financial Investment Management Inc. bought a new position in Putnam Managed during the fourth quarter worth about $63,000. Finally, UMB Bank n.a. acquired a new position in shares of Putnam Managed during the 4th quarter worth about $70,000. Institutional investors and hedge funds own 13.54% of the company’s stock.

Putnam Managed Trading Down 0.6%

Shares of NYSE:PMM opened at $6.29 on Thursday. The firm’s 50 day simple moving average is $6.37 and its 200 day simple moving average is $6.29. Putnam Managed has a fifty-two week low of $5.77 and a fifty-two week high of $6.60.

Putnam Managed Dividend Announcement

The firm also recently disclosed 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 6.3%. The ex-dividend date of this dividend 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.