Putnam Mast Int (NYSE:PIM) Shares Climb 0.8% – Still a Buy?

Putnam Mast Int (NYSE:PIM) shares shot up 0.8% during trading on Friday. The company traded as high as $3.07 and last traded at $3.0450. Approximately 170,209 shares were traded during mid-day trading, an increase of 64% from the average session volume of 104,005 shares. The stock had previously closed at $3.02.

Putnam Mast Int Trading Up 0.8%

The firm’s 50-day moving average price is $3.06 and its 200-day moving average price is $3.18.

Putnam Mast Int Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be paid a $0.0220 dividend. This represents a $0.26 annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Friday, November 20th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PVG Asset Management Corp grew its position in Putnam Mast Int by 155.2% during the first quarter. PVG Asset Management Corp now owns 1,231,891 shares of the company’s stock worth $3,967,000 after buying an additional 749,132 shares during the period. Penbrook Management LLC boosted its position in shares of Putnam Mast Int by 3.4% during the third quarter. Penbrook Management LLC now owns 152,063 shares of the company’s stock worth $459,000 after buying an additional 5,000 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Putnam Mast Int in the 2nd quarter worth approximately $240,000. Baird Financial Group Inc. raised its position in Putnam Mast Int by 6.4% during the second quarter. Baird Financial Group Inc. now owns 66,500 shares of the company’s stock valued at $215,000 after buying an additional 4,000 shares during the period. Finally, Fortitude Advisory Group L.L.C. lifted its stake in shares of Putnam Mast Int by 17.6% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 62,135 shares of the company’s stock valued at $201,000 after purchasing an additional 9,316 shares during the last quarter. Hedge funds and other institutional investors own 55.06% of the company’s stock.

Putnam Mast Int Company Profile

Putnam Managed Municipal Income Trust (NYSE: PIM) is a closed-end management investment company that seeks to provide high current income that is exempt from federal income tax.

The fund invests primarily in municipal securities issued by states, municipalities and other governmental entities. Its portfolio may include bonds that finance public infrastructure and services, with investment decisions made according to the fund’s objectives, policies and risk considerations.

Putnam Investment Management, LLC serves as the fund’s investment adviser.