Putnam Premier Income Trust (NYSE:PPT) Short Interest Up 101.5% in March

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 53,600 shares, a growth of 101.5% from the February 28th total of 26,600 shares. Based on an average daily trading volume, of 175,100 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Putnam Premier Income Trust

Several large investors have recently added to or reduced their stakes in PPT. Stifel Financial Corp boosted its position in Putnam Premier Income Trust by 12.3% in the 3rd quarter. Stifel Financial Corp now owns 45,431 shares of the investment management company’s stock valued at $169,000 after buying an additional 4,978 shares during the period. Oder Investment Management LLC boosted its stake in shares of Putnam Premier Income Trust by 7.8% in the 4th quarter. Oder Investment Management LLC now owns 71,644 shares of the investment management company’s stock valued at $255,000 after buying an additional 5,188 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Putnam Premier Income Trust by 5.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 111,817 shares of the investment management company’s stock worth $398,000 after buying an additional 6,041 shares during the period. Jones Financial Companies Lllp raised its holdings in Putnam Premier Income Trust by 109.8% in the fourth quarter. Jones Financial Companies Lllp now owns 13,716 shares of the investment management company’s stock valued at $49,000 after acquiring an additional 7,177 shares in the last quarter. Finally, South Plains Financial Inc. purchased a new position in Putnam Premier Income Trust in the fourth quarter worth approximately $31,000. 42.79% of the stock is owned by hedge funds and other institutional investors.

Putnam Premier Income Trust Stock Performance

Putnam Premier Income Trust stock traded up $0.03 during midday trading on Friday, reaching $3.60. 125,767 shares of the stock traded hands, compared to its average volume of 159,703. The company has a 50-day simple moving average of $3.59 and a two-hundred day simple moving average of $3.61. Putnam Premier Income Trust has a 12-month low of $3.40 and a 12-month high of $3.74.

Putnam Premier Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.026 dividend. This represents a $0.31 annualized dividend and a dividend yield of 8.68%. The ex-dividend date is Monday, March 17th.

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.