Robinson Capital Management buys $3,493,836 stake in Putnam Managed Municipal Income Trust (PMM)

Putnam Managed Municipal Income Trust (PMM) : Robinson Capital Management scooped up 108,854 additional shares in Putnam Managed Municipal Income Trust during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 437,824 shares of Putnam Managed Municipal Income Trust which is valued at $3,493,836.Putnam Managed Municipal Income Trust makes up approximately 2.47% of Robinson Capital Management’s portfolio.

Other Hedge Funds, Including , Cnh Partners sold out all of its stake in PMM during the most recent quarter. The investment firm sold 46,573 shares of PMM which is valued $371,653. Laurion Capital Management Lp sold out all of its stake in PMM during the most recent quarter. The investment firm sold 410,767 shares of PMM which is valued $3,277,921. Captrust Financial Advisors sold out all of its stake in PMM during the most recent quarter. The investment firm sold 540 shares of PMM which is valued $4,304. Alpha Cubed Investments sold out all of its stake in PMM during the most recent quarter. The investment firm sold 16,400 shares of PMM which is valued $130,380.Msi Financial Services Inc reduced its stake in PMM by selling 500 shares or 21.88% in the most recent quarter. The Hedge Fund company now holds 1,785 shares of PMM which is valued at $14,280.

Putnam Managed Municipal Income Trust opened for trading at $7.97 and hit $8 on the upside on Thursday, eventually ending the session at $7.98, with a gain of 0.14% or 0.0111 points. The heightened volatility saw the trading volume jump to 1,07,562 shares. Company has a market cap of $377 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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