Macroview Investment Management Lowers stake in Putnam Managed Municipal Income Trust (PMM)

Putnam Managed Municipal Income Trust (PMM) : Macroview Investment Management reduced its stake in Putnam Managed Municipal Income Trust by 5.01% during the most recent quarter end. The investment management company now holds a total of 91,266 shares of Putnam Managed Municipal Income Trust which is valued at $729,215 after selling 4,810 shares in Putnam Managed Municipal Income Trust , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Putnam Managed Municipal Income Trust makes up approximately 3.19% of Macroview Investment Management’s portfolio.

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Putnam Managed Municipal Income Trust opened for trading at $7.97 and hit $7.99 on the upside on Monday, eventually ending the session at $7.97, with a gain of 0.25% or 0.02 points. The heightened volatility saw the trading volume jump to 78,324 shares. Company has a market cap of $376 M.

Putnam Managed Municipal Income Trust (the Fund) is a diversified closed-end management investment fund. The Fund seeks to provide a high level of current income exempt from federal income tax. The Fund intends to achieve its objective by investing in a diversified portfolio of tax-exempt municipal securities. Approximately 60% of the Fund’s assets may consist of high-yield tax-exempt municipal securities that are below investment grade and involve special risk considerations. The Fund enters into contracts that may include agreements to indemnify another party under given circumstances. The Fund uses investment leverage by issuing preferred shares. It invests in sectors such as healthcare utilities transportation and education prerefunded tobacco land state debt industrials and other. Putnam Investment Management LLC serves as the investment manager to the Fund.

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