Putnam Premier Income Trust (NYSE:PPT) Short Interest Update

Putnam Premier Income Trust (NYSE:PPTGet Rating) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 60,100 shares, a growth of 46.6% from the April 15th total of 41,000 shares. Based on an average trading volume of 275,800 shares, the short-interest ratio is presently 0.2 days.

Shares of PPT stock opened at $3.81 on Friday. Putnam Premier Income Trust has a twelve month low of $3.76 and a twelve month high of $4.82. The stock’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $4.12.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, June 1st. Investors of record on Tuesday, May 24th will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Monday, May 23rd. This represents a $0.31 dividend on an annualized basis and a yield of 8.19%.

Hedge funds have recently modified their holdings of the stock. Morgan Stanley grew its position in shares of Putnam Premier Income Trust by 7.3% in the 3rd quarter. Morgan Stanley now owns 1,618,539 shares of the investment management company’s stock valued at $7,397,000 after buying an additional 110,384 shares during the last quarter. Karpus Management Inc. bought a new stake in shares of Putnam Premier Income Trust in the 1st quarter valued at about $5,799,000. Shaker Financial Services LLC grew its position in shares of 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 valued at $3,036,000 after buying an additional 227,597 shares during the last quarter. Howard Wealth Management LLC grew its position in shares of Putnam Premier Income Trust by 24.9% in the 1st quarter. Howard Wealth Management LLC now owns 706,485 shares of the investment management company’s stock valued at $2,818,000 after buying an additional 140,775 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Putnam Premier Income Trust by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 335,484 shares of the investment management company’s stock valued at $1,432,000 after purchasing an additional 9,046 shares in the last quarter. Institutional investors and hedge funds own 36.45% of the company’s stock.

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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