Sit Investment Associates Inc. Buys 1,689,141 Shares of Putnam Premier Income Trust (NYSE:PPT)

Sit Investment Associates Inc. raised its position in shares of Putnam Premier Income Trust (NYSE:PPT - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,876,912 shares of the investment management company's stock after purchasing an additional 1,689,141 shares during the quarter. Putnam Premier Income Trust accounts for approximately 1.8% of Sit Investment Associates Inc.'s holdings, making the stock its 6th biggest position. Sit Investment Associates Inc. owned about 22.72% of Putnam Premier Income Trust worth $77,882,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Stifel Financial Corp boosted 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 buying an additional 4,978 shares in the last quarter. Jones Financial Companies Lllp lifted 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 during the period. IHT Wealth Management LLC raised its holdings in shares of Putnam Premier Income Trust by 88.4% in the third quarter. IHT Wealth Management LLC now owns 19,566 shares of the investment management company's stock worth $73,000 after acquiring an additional 9,183 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Putnam Premier Income Trust in the 3rd quarter valued at $54,000. Finally, Allspring Global Investments Holdings LLC grew its position in Putnam Premier Income Trust by 0.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,779,876 shares of the investment management company's stock valued at $13,456,000 after acquiring an additional 18,675 shares in the last quarter. Hedge funds and other institutional investors own 42.79% of the company's stock.

Putnam Premier Income Trust Stock Performance

Shares of PPT stock traded down $0.04 on Thursday, hitting $3.48. 202,871 shares of the stock traded hands, compared to its average volume of 165,468. Putnam Premier Income Trust has a 1-year low of $3.40 and a 1-year high of $3.74. The company's fifty day moving average is $3.59 and its 200 day moving average is $3.59.

Putnam Premier Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.026 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.31 annualized dividend and a yield of 8.98%.

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.