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

Putnam Premier Income Trust (NYSE:PPT) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 53,531 shares, a decrease of 71.1% from the August 31st total of 185,500 shares. Based on an average trading volume of 92,976 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPT. Summit Securities Group LLC acquired a new stake in Putnam Premier Income Trust during the 1st quarter worth $29,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Putnam Premier Income Trust in the fourth quarter valued at about $33,000. IFP Advisors Inc raised its position in shares of Putnam Premier Income Trust by 17.6% in the second quarter. IFP Advisors Inc now owns 23,506 shares of the investment management company’s stock valued at $82,000 after buying an additional 3,526 shares during the last quarter. Readystate Asset Management LP purchased a new position in shares of Putnam Premier Income Trust in the second quarter worth about $93,000. Finally, Closed End Fund Advisors Inc. purchased a new position in shares of Putnam Premier Income Trust in the fourth quarter worth about $97,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.

Putnam Premier Income Trust Stock Performance

NYSE PPT opened at $3.25 on Friday. The stock’s 50 day simple moving average is $3.40 and its 200-day simple moving average is $3.45. Putnam Premier Income Trust has a 1-year low of $3.24 and a 1-year high of $3.74.

Putnam Premier Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be paid a $0.0260 dividend. This represents a $0.31 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend is Friday, November 20th.

Putnam Premier Income Trust Company Profile

Putnam Premier Income Trust (NYSE: PPT) is a closed-end management investment company that seeks to provide a high level of current income while also pursuing opportunities for capital appreciation. The fund is managed by Putnam Investment Management, LLC, part of Putnam Investments.

The trust invests primarily in a diversified portfolio of income-producing fixed-income securities. Its holdings may include corporate bonds, high-yield securities, bank loans and other debt instruments issued by companies and governments.