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

Putnam Premier Income Trust (NYSE:PPT) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 246,216 shares, a growth of 29.8% from the February 26th total of 189,669 shares. Based on an average daily volume of 207,822 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Putnam Premier Income Trust

A number of institutional investors have recently modified their holdings of PPT. Kestra Advisory Services LLC bought a new position in Putnam Premier Income Trust during the fourth quarter worth about $32,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Putnam Premier Income Trust in the 4th quarter worth about $33,000. Global Retirement Partners LLC boosted its holdings in Putnam Premier Income Trust by 104.1% in the 4th quarter. Global Retirement Partners LLC now owns 10,354 shares of the investment management company’s stock valued at $37,000 after purchasing an additional 5,282 shares during the period. Integrity Advisory Solutions LLC bought a new stake in Putnam Premier Income Trust in the 3rd quarter valued at about $44,000. Finally, UMB Bank n.a. acquired a new position in shares of Putnam Premier Income Trust during the 4th quarter worth approximately $43,000. Institutional investors own 42.79% of the company’s stock.

Putnam Premier Income Trust Stock Performance

NYSE:PPT traded up $0.07 during mid-day trading on Monday, hitting $3.51. 206,541 shares of the stock were exchanged, compared to its average volume of 160,836. The firm’s 50-day simple moving average is $3.58 and its 200 day simple moving average is $3.61. Putnam Premier Income Trust has a fifty-two week low of $3.40 and a fifty-two week high of $3.77.

Putnam Premier Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.026 per share. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a yield of 8.9%.

Putnam Premier Income Trust Company Profile

Putnam Premier Income Trust (NYSE:PPT) is a diversified closed-end management investment company that seeks to provide current income with a secondary objective of capital appreciation. The trust pursues income through a portfolio of domestic and international fixed-income and equity securities, including high-yield corporate bonds, investment-grade debt, preferred securities and dividend-paying stocks. Its investment strategy emphasizes diversification across credit quality, sector and geography to balance income generation with risk management.

The fund employs leverage, including borrowing and preferred shares, to enhance its income potential within regulatory limits.