CEF Advisors

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Putnam Managed Municipal Income Trust (PMM)

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

Data as of Jan. 17, 2020
Current
Market Price $8.17 ( $0.00)
NAV (Jan. 17, 2020) $8.25 (+ $0.01)
Premium / Discount -0.97% (-0.12%)
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 49,204,185
Total Assets (Reported: Oct. 31, 2019) $531M
Estimated Total Assets $499M
Net Assets $406M
Market Cap $402M
Purchases Turnover 30.34%
Sales Turnover 30.02%
Total Leverage 22.50%
Structural Leverage (out of total) 83.20%
Portfolio Leverage (out of total) 16.80%
Expense Ratio 1.52%
Non Lev Exp Ratio 0.90%
Rel Lev Cost 2.08%
Discount Data
Average Discount (3 Yr) -6.60%
Discount Low(3 Yr) -13.78%
Discount High(3 Yr) -0.85%
Discount Rel Range 99.07%
Comp Discount 2.59
Discount St Dev (1Yr) 1.95
Z-Stat
Z-Stat (6mo) 1.60
Z-Stat (1Yr) 1.69
Z-Stat (3Yr) 1.96
Comp Z-Stat (6mo) 1.14
Comp Z-Stat (3Yr) 1.35
Distribution Data
Market Yield 4.70%
Income Yield 4.05%
Lev Adj NAV Yield 3.80%
Distribution Frequency M
Current Distribution $0.032
Current Income $0.028
Ex-Date 1/23/20
Payable Date 2/3/20
Div Growth (3yr) -5.04%
Dividend Change 10.7% on 11/16/18
Expected Div 1/24/20
RoC (1yr) 5.03%
RoC (3yr) 2.71%
Volume & Liquidity
Average Daily $ (M) $790
Avg Volume 30 day 106,200
Avg Volume 90 day 96,722
Volume Trend 9.80%
Comp Volume Trend 6.03%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
-9.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
11.0%
Price Correlation (1yr)
vs. CEFA's National Municipal Bond Index
72.0%
Most Correlated Peer (Mk Pr): PMO 79.0%
NAV - Price Correlation (30 d) 89.4%
NAV - Price Correlation (90 d) 71.3%
NAV - Price Correlation (1 Yr) 94.1%
Price St Dev (1Yr) 8.8%
NAV St Dev (1Yr) 2.4%
Earnings
Earnings / Share (10/31/19) $0.029
Earn Coverage 90.31%
Earnings Trend Down
UNII / Share (10/31/19) $0.008
Rel UNII 2.46
UNII Trend Up
Bond Specific Data
Maturity 5.38
Duration 7.31
Credit Rating (rbo) BBB
Investment Grade 65.47%
Non Investment Grade 16.60%
Unrated Bonds 17.93%
Average Bond Price 110.89
Discount vs Price 9.92
Coupon 5.25%
Zero Coupon 1.82%
AMT 0.00%
AMT Yield 4.70%
Bond Calls Risk None%
Performance
NAV Beta (2yr)
vs. S&P 500 (TR)
-0.02
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
0.01
NAV Beta (2yr)
vs. CEFA's National Municipal Bond Index
0.66

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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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