Putnam Premier Income Trust (NYSE:PPT) Short Interest Up 590.8% in January

Putnam Premier Income Trust (NYSE:PPT) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 288,187 shares, a growth of 590.8% from the January 15th total of 41,717 shares. Based on an average daily trading volume, of 227,970 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 227,970 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On Putnam Premier Income Trust

A number of large investors have recently added to or reduced their stakes in PPT. Global Retirement Partners LLC grew its position in shares of 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 worth $37,000 after buying an additional 5,282 shares during the last quarter. Integrity Advisory Solutions LLC acquired a new stake in Putnam Premier Income Trust during the 3rd quarter worth about $44,000. First National Trust Co purchased a new stake in Putnam Premier Income Trust in the third quarter valued at approximately $48,000. Thrivent Financial for Lutherans acquired a new stake in shares of Putnam Premier Income Trust in the third quarter worth $57,000. Finally, IFP Advisors Inc raised its stake in shares of Putnam Premier Income Trust by 68.6% during the 2nd quarter. IFP Advisors Inc now owns 19,980 shares of the investment management company’s stock valued at $73,000 after buying an additional 8,130 shares during the last quarter. 42.79% of the stock is currently owned by institutional investors.

Putnam Premier Income Trust Stock Performance

Shares of PPT stock traded down $0.01 on Thursday, hitting $3.63. The stock had a trading volume of 125,120 shares, compared to its average volume of 214,801. Putnam Premier Income Trust has a one year low of $3.40 and a one year high of $3.77. The business has a 50 day moving average price of $3.59 and a 200 day moving average price of $3.64.

Putnam Premier Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.026 per share. The ex-dividend date is Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 8.6%.

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.