Short Interest in Putnam Premier Income Trust (NYSE:PPT) Rises By 101.5%

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 53,600 shares, a growth of 101.5% from the February 28th total of 26,600 shares. Based on an average daily volume of 175,100 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are short sold.

Putnam Premier Income Trust Stock Up 0.7 %

Shares of NYSE:PPT traded up $0.03 during trading on Friday, hitting $3.60. 125,767 shares of the company’s stock were exchanged, compared to its average volume of 159,703. The firm has a 50-day moving average price of $3.59 and a two-hundred day moving average price of $3.61. Putnam Premier Income Trust has a 1-year low of $3.40 and a 1-year high of $3.74.

Putnam Premier Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.026 per share. The ex-dividend date is Monday, March 17th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 8.68%.

Hedge Funds Weigh In On Putnam Premier Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in Putnam Premier Income Trust by 12.3% during the 3rd quarter. Stifel Financial Corp now owns 45,431 shares of the investment management company’s stock worth $169,000 after buying an additional 4,978 shares during the period. Oder Investment Management LLC raised its position in shares of Putnam Premier Income Trust by 7.8% during the fourth quarter. Oder Investment Management LLC now owns 71,644 shares of the investment management company’s stock worth $255,000 after purchasing an additional 5,188 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Putnam Premier Income Trust by 5.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 111,817 shares of the investment management company’s stock valued at $398,000 after purchasing an additional 6,041 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Putnam Premier Income Trust by 109.8% during the 4th quarter. Jones Financial Companies Lllp now owns 13,716 shares of the investment management company’s stock valued at $49,000 after purchasing an additional 7,177 shares in the last quarter. Finally, South Plains Financial Inc. acquired a new position in shares of Putnam Premier Income Trust in the 4th quarter valued at approximately $31,000. Institutional investors own 42.79% of the company’s stock.

Putnam Premier Income Trust Company Profile

Putnam Premier Income Trust is a closed ended fixed income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the public fixed income markets across the globe. The fund primarily invests in U.S. high-grade and high-yield bonds with an average credit quality of BBB by S&P Corporation.