Putnam Premier Income Trust (NYSE:PPT) Short Interest Update
by Kim Johansen · The Markets DailyPutnam Premier Income Trust (NYSE:PPT – Get Free Report) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 70,877 shares, a decline of 44.8% from the April 30th total of 128,512 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 132,735 shares, the days-to-cover ratio is presently 0.5 days.
Hedge Funds Weigh In On Putnam Premier Income Trust
Institutional investors have recently bought and sold shares of the company. Sit Investment Associates Inc. lifted its position in shares of Putnam Premier Income Trust by 3.6% during the fourth quarter. Sit Investment Associates Inc. now owns 28,292,873 shares of the investment management company’s stock worth $100,157,000 after acquiring an additional 992,088 shares in the last quarter. Invesco Ltd. increased its stake in Putnam Premier Income Trust by 24.2% in the third quarter. Invesco Ltd. now owns 1,179,068 shares of the investment management company’s stock valued at $4,351,000 after acquiring an additional 229,753 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Putnam Premier Income Trust by 9.6% during the first quarter. Janney Montgomery Scott LLC now owns 774,899 shares of the investment management company’s stock valued at $2,751,000 after buying an additional 67,945 shares during the last quarter. Riverbridge Partners LLC grew its stake in shares of Putnam Premier Income Trust by 3.9% during the first quarter. Riverbridge Partners LLC now owns 633,159 shares of the investment management company’s stock valued at $2,248,000 after buying an additional 23,733 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Putnam Premier Income Trust by 16.6% during the second quarter. Osaic Holdings Inc. now owns 250,042 shares of the investment management company’s stock worth $918,000 after purchasing an additional 35,615 shares during the period. Hedge funds and other institutional investors own 42.79% of the company’s stock.
Putnam Premier Income Trust Stock Up 0.1%
PPT traded up $0.01 during midday trading on Thursday, hitting $3.48. 14,946 shares of the company were exchanged, compared to its average volume of 157,528. Putnam Premier Income Trust has a 1-year low of $3.41 and a 1-year high of $3.77. The firm’s 50 day moving average price is $3.50 and its 200-day moving average price is $3.55.
Putnam Premier Income Trust Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a dividend of $0.026 per share. This represents a c) dividend on an annualized basis and a yield of 9.0%. The ex-dividend date of this dividend is Monday, August 24th.
Putnam Premier Income Trust Company Profile
Putnam Premier Income Trust (NYSE:PPT) is a diversified closed-end management investment company that seeks to provide current income with a secondary objective of capital appreciation. The trust pursues income through a portfolio of domestic and international fixed-income and equity securities, including high-yield corporate bonds, investment-grade debt, preferred securities and dividend-paying stocks. Its investment strategy emphasizes diversification across credit quality, sector and geography to balance income generation with risk management.
The fund employs leverage, including borrowing and preferred shares, to enhance its income potential within regulatory limits.