Short Interest in Putnam Premier Income Trust (NYSE:PPT) Expands By 145.3%

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 185,500 shares, a growth of 145.3% from the August 15th total of 75,628 shares. Based on an average trading volume of 127,942 shares, the short-interest ratio is currently 1.4 days. Currently, 0.2% of the company’s shares are sold short.

Putnam Premier Income Trust Stock Down 0.2%

Putnam Premier Income Trust stock traded down $0.01 during mid-day trading on Tuesday, reaching $3.31. 19,788 shares of the company were exchanged, compared to its average volume of 137,740. The business has a fifty day moving average of $3.43 and a 200 day moving average of $3.47. Putnam Premier Income Trust has a 12-month low of $3.28 and a 12-month high of $3.77.

Putnam Premier Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.026 per share. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date is Friday, November 20th.

Hedge Funds Weigh In On Putnam Premier Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sit Investment Associates Inc. raised its position in shares of Putnam Premier Income Trust by 3.6% in the fourth quarter. Sit Investment Associates Inc. now owns 28,292,873 shares of the investment management company’s stock worth $100,157,000 after acquiring an additional 992,088 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Putnam Premier Income Trust in the second quarter valued at approximately $567,000. Janney Montgomery Scott LLC raised its stake in shares of Putnam Premier Income Trust by 9.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 774,899 shares of the investment management company’s stock worth $2,751,000 after buying an additional 67,945 shares during the period. Mirador Capital Partners LP increased its holdings in Putnam Premier Income Trust by 33.4% in the 2nd quarter. Mirador Capital Partners LP now owns 123,623 shares of the investment management company’s stock worth $431,000 after acquiring an additional 30,983 shares in the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new position in Putnam Premier Income Trust during the fourth quarter valued at $97,000. 42.79% of the stock is owned by hedge funds and other institutional investors.

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.