Putnam Premier Income Trust (NYSE:PPT) Sees Large Increase in Short Interest

Putnam Premier Income Trust (NYSE:PPTGet Rating) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 192,300 shares, a growth of 379.6% from the March 15th total of 40,100 shares. Based on an average daily volume of 289,700 shares, the short-interest ratio is currently 0.7 days.

Several hedge funds have recently added to or reduced their stakes in PPT. NewEdge Advisors LLC acquired a new position in shares of Putnam Premier Income Trust during the 4th quarter valued at $555,000. Millennium Management LLC acquired a new position in Putnam Premier Income Trust during the fourth quarter worth about $46,000. Level Four Advisory Services LLC acquired a new stake in shares of Putnam Premier Income Trust during the 4th quarter valued at $311,000. Steward Partners Investment Advisory LLC increased its position in shares of Putnam Premier Income Trust by 37.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 50,666 shares of the investment management company’s stock worth $216,000 after acquiring an additional 13,912 shares in the last quarter. Finally, Shaker Financial Services LLC boosted its stake in Putnam Premier Income Trust by 47.1% in the 4th quarter. Shaker Financial Services LLC now owns 710,940 shares of the investment management company’s stock worth $3,036,000 after purchasing an additional 227,597 shares during the period. Institutional investors own 34.92% of the company’s stock.

NYSE:PPT opened at $3.89 on Wednesday. Putnam Premier Income Trust has a 1 year low of $3.82 and a 1 year high of $4.82. The business has a fifty day moving average of $3.96 and a 200-day moving average of $4.22.

The business also recently announced a monthly dividend, which will be paid on Monday, May 2nd. Investors of record on Friday, April 22nd will be given a $0.026 dividend. The ex-dividend date of this dividend is Thursday, April 21st. This represents a $0.31 dividend on an annualized basis and a yield of 8.02%.

Putnam Premier Income Trust Company Profile (Get Rating)

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.

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