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Putnam Managed Municipal Income Closed Fund(PMM)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for PMM
09/14/2026: PMM (1-star) is currently NOT-A-BUY. Pass it for now.
Putnam Managed Municipal Income Closed Fund is a specialized closed-end fund designed to generate tax-exempt income for investors by investing in a diversified portfolio of municipal bonds. The fund benefits from the professional research and active management capabilities of its parent organization, providing a useful tool for those in higher tax brackets. While its focus on tax-advantaged income and regular distributions remains a primary appeal, investors must account for risks such as interest rate sensitivity and price volatility common to closed-end funds. Performance may be impacted by the use of leverage and fluctuations in market premiums or discounts to net asset value, making it best suited for income-oriented portfolios.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | The fund is structured for income generation rather than capital appreciation. |
| Momentum investor | Mixed fit | Momentum is limited by the underlying bond market's cyclical nature. |
| Value investor | Mixed fit | Investors may find value when the fund trades at a significant discount to NAV. |
| Dividend investor | Strong fit | The fund is specifically designed to provide regular tax-exempt income to investors. |
| Low-risk investor | Mixed fit | While municipal bonds are generally lower risk, the use of leverage increases the fund's volatility. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | Medium | The market price of the fund can fluctuate significantly regardless of the underlying bond values. |
| Valuation risk | Medium | Buying at a premium to NAV may reduce potential future returns. |
| Competition risk (Fixed Income CEF peers) | Medium | Competition for yield-seeking capital can impact the fund's discount or premium. |
| Business quality | Medium | The quality is tied to the expertise of the investment manager and municipal credit research. |
| Dividend income | Medium | Distribution levels may be adjusted based on the interest income generated by the portfolio. |
| Execution risk | Low | Portfolio management strategies involve standard bond market risk management. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type Stock | Historic Profit 13.05% | Avg. Invested days 63 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 09/14/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 254.43M USD | Price to earnings Ratio 10.8 | 1Y Target Price - |
Price to earnings Ratio 10.8 | 1Y Target Price - | ||
Volume (30-day avg) 88.2K shares | Beta 0.72 | 52 Weeks Range 5.74 - 6.53 | Updated Date 09/14/2026 |
52 Weeks Range 5.74 - 6.53 | Updated Date 09/14/2026 | ||
Dividends yield (FY) 5.10% | Basic EPS (TTM) 0.55 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Municipal Bond Income | Interest generated from a diverse portfolio of municipal bonds. | You earn tax-exempt interest paid out as monthly dividends. |
Valuation
Trailing PE 10.8 | Forward PE - | Enterprise Value 387.08M | Price to Sales(TTM) 12.89 |
Enterprise Value 387.08M | Price to Sales(TTM) 12.89 | ||
Enterprise Value to Revenue 12.74 | Enterprise Value to EBITDA - | Shares Outstanding 42.83M | Shares Floating - |
Shares Outstanding 42.83M | Shares Floating - | ||
Percent Insiders 0.01 | Percent Institutions 23.65 |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
About Putnam Managed Municipal Income Closed Fund
Exchange NYSE | Headquarters Boston, MA, United States | ||
IPO Launch date 1989-06-30 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of tax-exempt municipal securities, including high-yield securities that are rated below investment grade. The fund benchmarks the performance of its portfolio against the Barclays Municipal Bond Index. Putnam Managed Municipal Income Trust was formed on February 24, 1989 and is domiciled in the United States.
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