Putnam Mast Int (NYSE:PIM) Shares Climb 0.8% – Here’s Why

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

Putnam Mast Int Stock Up 0.8%

The firm has a fifty day moving average price of $3.06 and a 200 day moving average price of $3.18.

Putnam Mast Int Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PVG Asset Management Corp lifted its stake in Putnam Mast Int by 155.2% in the 1st quarter. PVG Asset Management Corp now owns 1,231,891 shares of the company’s stock valued at $3,967,000 after acquiring an additional 749,132 shares in the last quarter. Penbrook Management LLC grew its stake in shares of Putnam Mast Int by 3.4% during the 3rd quarter. Penbrook Management LLC now owns 152,063 shares of the company’s stock worth $459,000 after acquiring an additional 5,000 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Putnam Mast Int during the 2nd quarter worth approximately $240,000. Baird Financial Group Inc. grew its stake in shares of Putnam Mast Int by 6.4% during the 2nd quarter. Baird Financial Group Inc. now owns 66,500 shares of the company’s stock worth $215,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. raised its holdings in shares of Putnam Mast Int by 17.6% in the second 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. 55.06% of the stock is currently owned by institutional investors.

About Putnam Mast Int

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.