Putnam Premier Income Trust (NYSE:PPT) Short Interest Up 232.3% in July

Putnam Premier Income Trust (NYSE:PPT) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 52,128 shares, an increase of 232.3% from the June 30th total of 15,689 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 82,230 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Putnam Premier Income Trust

Several large investors have recently bought and sold shares of PPT. Summit Securities Group LLC acquired a new stake in shares of Putnam Premier Income Trust during the first quarter valued at about $29,000. Kestra Advisory Services LLC bought a new position in shares of Putnam Premier Income Trust during the fourth quarter valued at $32,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Putnam Premier Income Trust during the fourth quarter worth $33,000. Global Retirement Partners LLC grew its stake in shares of Putnam Premier Income Trust by 104.1% in the fourth quarter. Global Retirement Partners LLC now owns 10,354 shares of the investment management company’s stock worth $37,000 after purchasing an additional 5,282 shares during the last quarter. Finally, UMB Bank n.a. acquired a new stake in Putnam Premier Income Trust in the fourth quarter valued at $43,000. 42.79% of the stock is currently owned by institutional investors.

Putnam Premier Income Trust Stock Performance

Shares of NYSE PPT traded up $0.01 during midday trading on Tuesday, reaching $3.38. 49,027 shares of the company were exchanged, compared to its average volume of 142,420. The stock’s 50-day moving average price is $3.44 and its 200-day moving average price is $3.52. Putnam Premier Income Trust has a one year low of $3.37 and a one year high of $3.77.

Putnam Premier Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a dividend of $0.026 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 9.2%.

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.