Short Interest in Putnam Premier Income Trust (NYSE:PPT) Increases By 138.8%

Putnam Premier Income Trust (NYSE:PPT) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 20,300 shares, an increase of 138.8% from the August 15th total of 8,500 shares. Based on an average daily trading volume, of 123,200 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On Putnam Premier Income Trust

Several institutional investors have recently made changes to their positions in PPT. Creative Planning boosted its position in shares of Putnam Premier Income Trust by 8.3% in the second quarter. Creative Planning now owns 83,867 shares of the investment management company’s stock valued at $300,000 after acquiring an additional 6,400 shares during the period. Luken Investment Analytics LLC acquired a new stake in Putnam Premier Income Trust in the second quarter worth $29,000. Valley Brook Capital Group Inc. increased its stake in Putnam Premier Income Trust by 32.0% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 87,875 shares of the investment management company’s stock worth $315,000 after purchasing an additional 21,325 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Putnam Premier Income Trust by 43.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,144,201 shares of the investment management company’s stock worth $14,836,000 after buying an additional 1,261,737 shares during the period. Finally, Catalina Capital Group LLC bought a new stake in Putnam Premier Income Trust during the 2nd quarter worth about $197,000. 42.79% of the stock is currently owned by institutional investors and hedge funds.

Putnam Premier Income Trust Price Performance

Shares of Putnam Premier Income Trust stock opened at $3.73 on Friday. Putnam Premier Income Trust has a 1 year low of $3.25 and a 1 year high of $3.74. The stock has a 50-day moving average price of $3.65 and a 200 day moving average price of $3.56.

Putnam Premier Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th will be paid a dividend of $0.026 per share. This represents a $0.31 dividend on an annualized basis and a dividend yield of 8.36%. The ex-dividend date is Tuesday, September 24th.

Putnam Premier Income Trust Company Profile

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.