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

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 133,700 shares, a growth of 282.0% from the March 31st total of 35,000 shares. Currently, 0.1% of the company's stock are sold short. Based on an average trading volume of 200,500 shares, the days-to-cover ratio is presently 0.7 days.

Putnam Premier Income Trust Stock Performance

Shares of NYSE PPT traded up $0.03 during trading on Friday, hitting $3.59. The stock had a trading volume of 107,612 shares, compared to its average volume of 166,330. The firm has a fifty day moving average of $3.57 and a two-hundred day moving average of $3.58. Putnam Premier Income Trust has a 12 month low of $3.40 and a 12 month high of $3.74.

Putnam Premier Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be paid a $0.026 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.31 annualized dividend and a yield of 8.70%.

Hedge Funds Weigh In On Putnam Premier Income Trust

Hedge funds have recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in Putnam Premier Income Trust by 12.3% during the third quarter. Stifel Financial Corp now owns 45,431 shares of the investment management company's stock worth $169,000 after acquiring an additional 4,978 shares during the period. Riverbridge Partners LLC boosted its holdings in shares of Putnam Premier Income Trust by 63.2% in the 4th quarter. Riverbridge Partners LLC now owns 200,954 shares of the investment management company's stock worth $715,000 after buying an additional 77,799 shares during the last quarter. Mezzasalma Advisors LLC bought a new position in Putnam Premier Income Trust during the fourth quarter valued at about $250,000. Essential Planning LLC. purchased a new stake in Putnam Premier Income Trust during the fourth quarter worth about $817,000. Finally, Sit Investment Associates Inc. raised its position in Putnam Premier Income Trust by 8.4% in the fourth quarter. Sit Investment Associates Inc. now owns 21,876,912 shares of the investment management company's stock worth $77,882,000 after acquiring an additional 1,689,141 shares during the period. Institutional investors own 42.79% of the company's stock.

About Putnam Premier Income Trust

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.

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