Putnam Premier Income Trust (NYSE:PPT) Stock Passes Above 200-Day Moving Average – What’s Next?

Putnam Premier Income Trust (NYSE:PPT) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.65 and traded as high as $3.65. Putnam Premier Income Trust shares last traded at $3.61, with a volume of 223,265 shares.

Putnam Premier Income Trust Trading Down 1.6%

The company has a fifty day moving average price of $3.69 and a 200-day moving average price of $3.65.

Putnam Premier Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a c) annualized dividend and a dividend yield of 8.6%.

Hedge Funds Weigh In On Putnam Premier Income Trust

Large investors have recently modified their holdings of the stock. IFP Advisors Inc increased its position in shares of Putnam Premier Income Trust by 138.0% during the 1st quarter. IFP Advisors Inc now owns 11,850 shares of the investment management company’s stock valued at $43,000 after purchasing an additional 6,871 shares during the last quarter. Baird Financial Group Inc. bought a new position in Putnam Premier Income Trust in the 1st quarter valued at $80,000. Ethos Financial Group LLC bought a new position in Putnam Premier Income Trust in the 1st quarter valued at $96,000. Gilman Hill Asset Management LLC grew its position in Putnam Premier Income Trust by 22.8% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 35,000 shares of the investment management company’s stock valued at $128,000 after acquiring an additional 6,500 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Putnam Premier Income Trust in the 2nd quarter valued at $169,000. Institutional investors own 42.79% of the company’s stock.

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.