Putnam Premier Income Trust (NYSE:PPT) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Putnam Premier Income Trust (NYSE:PPT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.63 and traded as high as $3.63. Putnam Premier Income Trust shares last traded at $3.6250, with a volume of 100,982 shares traded.

Putnam Premier Income Trust Price Performance

The business’s 50 day simple moving average is $3.59 and its 200 day simple moving average is $3.63.

Putnam Premier Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a dividend of $0.026 per share. The ex-dividend date is Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 8.6%.

Institutional Trading of Putnam Premier Income Trust

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP acquired a new stake in Putnam Premier Income Trust during the 2nd quarter valued at $188,000. IFP Advisors Inc raised its position in shares of Putnam Premier Income Trust by 68.6% in the second quarter. IFP Advisors Inc now owns 19,980 shares of the investment management company’s stock valued at $73,000 after purchasing an additional 8,130 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Putnam Premier Income Trust by 66.5% during the 2nd quarter. International Assets Investment Management LLC now owns 53,079 shares of the investment management company’s stock worth $195,000 after buying an additional 21,200 shares during the last quarter. Riverbridge Partners LLC boosted its holdings in shares of Putnam Premier Income Trust by 157.6% during the 4th quarter. Riverbridge Partners LLC now owns 609,426 shares of the investment management company’s stock worth $2,157,000 after buying an additional 372,890 shares during the period. Finally, Intellus Advisors LLC grew its stake in Putnam Premier Income Trust by 24.3% in the 3rd quarter. Intellus Advisors LLC now owns 132,779 shares of the investment management company’s stock valued at $490,000 after buying an additional 25,949 shares during the last quarter. 42.79% of the stock is owned by institutional investors and hedge funds.

About Putnam Premier Income Trust

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.