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

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a large drop in short interest in February. As of February 15th, there was short interest totalling 26,400 shares, a drop of 79.0% from the January 31st total of 125,700 shares. Based on an average daily volume of 191,800 shares, the short-interest ratio is currently 0.1 days.

Putnam Premier Income Trust Stock Performance

PPT stock traded up $0.03 during midday trading on Friday, hitting $3.61. 159,947 shares of the stock were exchanged, compared to its average volume of 156,273. The stock’s 50-day moving average price is $3.59 and its 200-day moving average price is $3.62. Putnam Premier Income Trust has a fifty-two week low of $3.40 and a fifty-two week high of $3.74.

Putnam Premier Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 24th will be paid a dividend of $0.026 per share. This represents a $0.31 annualized dividend and a dividend yield of 8.65%. The ex-dividend date is Monday, February 24th.

Institutional Investors Weigh In On Putnam Premier Income Trust

A number of large investors have recently added to or reduced their stakes in PPT. South Plains Financial Inc. acquired a new position in Putnam Premier Income Trust during the fourth quarter worth about $31,000. Captrust Financial Advisors acquired a new position in shares of Putnam Premier Income Trust during the 4th quarter worth approximately $47,000. Jones Financial Companies Lllp lifted its stake in Putnam Premier Income Trust by 109.8% in the 4th quarter. Jones Financial Companies Lllp now owns 13,716 shares of the investment management company’s stock valued at $49,000 after buying an additional 7,177 shares in the last quarter. XTX Topco Ltd purchased a new stake in Putnam Premier Income Trust in the 3rd quarter valued at approximately $54,000. Finally, IHT Wealth Management LLC grew its holdings in Putnam Premier Income Trust by 88.4% during the 3rd quarter. IHT Wealth Management LLC now owns 19,566 shares of the investment management company’s stock valued at $73,000 after buying an additional 9,183 shares during the last quarter. 42.79% of the stock is owned by institutional investors and hedge funds.

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.