CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Putnam Mgd Muni Incm Tr (PMM)

National Muni Bond Funds - National Municipal (tax-free) Bond

Data as of July 17, 2018
Current
Market Price $7.15 ( $0.00)
NAV (July 17, 2018) $7.88 ( $0.00)
Premium / Discount -9.26% (+0.00%)
Fund Info
Inception Feb. 24, 1989
Sponsor Putnam Investment Management
Website https://www.putnam.com...
Phone 1-800-225-1581
NAV Symbol XPMMX
Objective: High current tax-free income by investing primarily in levered portfolio of municipal bonds.
Related Indexes
National Municipal Bond Index
Capital & Leverage
Outstanding Shares 52,424,580
Gross Assets (Reported: Oct. 31, 2017) $568M
Estimated Gross Assets $503M
Net Assets $413M
Market Cap $375M
Purchases Turnover 30.34%
Sales Turnover 30.02%
Total Leverage 24.06%
Structural Leverage (out of total) 74.56%
Portfolio Leverage (out of total) 25.44%
Expense Ratio 1.39%
Non Lev Exp Ratio 1.00%
Rel Lev Cost 1.22%
Discount Data
Average Discount (3 Yr) -6.97%
Discount Low(3 Yr) -11.74%
Discount High(3 Yr) -2.30%
Discount Rel Range 26.25%
Comp Discount -1.72
Discount St Dev (1Yr) 2.27
Z-Stat
Z-Stat (6mo) 0.54
Z-Stat (1Yr) -0.71
Z-Stat (3Yr) -0.99
Comp Z-Stat (6mo) 0.73
Comp Z-Stat (3Yr) 0.14
Distribution Data
Market Yield 4.85%
Income Yield 4.85%
Lev Adj NAV Yield 3.55%
Distribution Frequency M
Current Distribution $0.029
Current Income $0.029
Ex-Date 7/23/18
Payable Date 8/1/18
Div Growth (3yr) -20.39%
Dividend Change -9.1% on 5/18/18
Expected Div 8/8/18
RoC (1yr) 5.57%
RoC (3yr) 1.73%
Volume & Liquidity
Average Daily $ (M) $821
Avg Volume 30 day 135,266
Avg Volume 90 day 114,764
Volume Trend 17.86%
Comp Volume Trend 20.98%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
19.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
26.0%
Price Correlation (1yr)
vs. CEFA's National Municipal Bond Index
68.0%
Most Correlated Peer (Mk Pr): PMO 76.0%
NAV - Price Correlation (30 d) 17.9%
NAV - Price Correlation (90 d) 25.8%
NAV - Price Correlation (1 Yr) 88.9%
Price St Dev (1Yr) 7.6%
NAV St Dev (1Yr) 2.7%
Earnings
Earnings / Share (4/30/18) $0.031
Earn Coverage 106.57%
Earnings Trend Down
UNII / Share (4/30/18) $-0.042
Rel UNII -12.23
UNII Trend Down
Bond Specific Data
Maturity 6.32
Duration 8.79
Credit Rating (rbo) BBB
Investment Grade 69.15%
Non Investment Grade 13.94%
Unrated Bonds 16.91%
Average Bond Price 107.39
Discount vs Price -1.87
Coupon 5.39%
Zero Coupon 1.41%
AMT 0.00%
AMT Yield 4.85%
Bond Calls Risk None%
Performance
NAV Beta (2yr)
vs. S&P 500 (TR)
-0.04
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
0.13
NAV Beta (2yr)
vs. CEFA's National Municipal Bond Index
0.64

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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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