Putnam Premier Income Trust (NYSE:PPT) Sees Significant Drop in Short Interest

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 46,053 shares, a decline of 35.0% from the May 14th total of 70,877 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 92,973 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its stake in shares of Putnam Premier Income Trust by 2.5% during the first quarter. Integrated Wealth Concepts LLC now owns 114,650 shares of the investment management company’s stock valued at $414,000 after acquiring an additional 2,833 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its stake in shares of Putnam Premier Income Trust by 2.2% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 163,870 shares of the investment management company’s stock worth $598,000 after purchasing an additional 3,500 shares during the last quarter. Oder Investment Management LLC increased its holdings in Putnam Premier Income Trust by 5.4% in the first quarter. Oder Investment Management LLC now owns 74,587 shares of the investment management company’s stock valued at $265,000 after purchasing an additional 3,795 shares during the period. Cetera Investment Advisers raised its position in Putnam Premier Income Trust by 8.9% during the 4th quarter. Cetera Investment Advisers now owns 47,630 shares of the investment management company’s stock worth $169,000 after purchasing an additional 3,897 shares during the last quarter. Finally, Integrity Advisory Solutions LLC lifted its holdings in Putnam Premier Income Trust by 38.8% during the 4th quarter. Integrity Advisory Solutions LLC now owns 16,659 shares of the investment management company’s stock worth $59,000 after buying an additional 4,656 shares during the period. Institutional investors and hedge funds own 42.79% of the company’s stock.

Putnam Premier Income Trust Stock Down 0.1%

Shares of PPT traded down $0.01 during trading hours on Wednesday, reaching $3.45. The stock had a trading volume of 95,532 shares, compared to its average volume of 154,449. Putnam Premier Income Trust has a 12 month low of $3.41 and a 12 month high of $3.77. The company’s 50-day moving average is $3.48 and its two-hundred day moving average is $3.54.

Putnam Premier Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a $0.026 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 9.1%.

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.