Putnam Premier Income Trust (NYSE:PPT) Sees Large Drop in Short Interest

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totaling 48,611 shares, a decline of 45.6% from the November 30th total of 89,425 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 282,643 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 282,643 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Trading of Putnam Premier Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in PPT. Pin Oak Investment Advisors Inc. boosted its holdings in Putnam Premier Income Trust by 55.2% during the third quarter. Pin Oak Investment Advisors Inc. now owns 160,370 shares of the investment management company’s stock worth $592,000 after purchasing an additional 57,050 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Putnam Premier Income Trust in the 3rd quarter worth approximately $112,000. Invesco Ltd. grew its holdings in shares of Putnam Premier Income Trust by 24.2% in the third quarter. Invesco Ltd. now owns 1,179,068 shares of the investment management company’s stock valued at $4,351,000 after acquiring an additional 229,753 shares in the last quarter. Intellus Advisors LLC increased its position in shares of Putnam Premier Income Trust by 24.3% during the third quarter. Intellus Advisors LLC now owns 132,779 shares of the investment management company’s stock valued at $490,000 after acquiring an additional 25,949 shares during the last quarter. Finally, Integrity Advisory Solutions LLC bought a new stake in Putnam Premier Income Trust during the third quarter worth $44,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.

Putnam Premier Income Trust Stock Performance

PPT stock opened at $3.57 on Friday. Putnam Premier Income Trust has a twelve month low of $3.40 and a twelve month high of $3.77. The stock’s 50 day moving average is $3.59 and its 200-day moving average is $3.65.

Putnam Premier Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be paid a dividend of $0.026 per share. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 8.8%.

About Putnam Premier Income Trust

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.