Putnam Premier Income Trust (NYSE:PPT) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Putnam Premier Income Trust (NYSE:PPT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.64 and traded as high as $3.64. Putnam Premier Income Trust shares last traded at $3.6150, with a volume of 260,887 shares trading hands.

Putnam Premier Income Trust Stock Up 1.0%

The firm’s fifty day moving average price is $3.58 and its 200-day moving average price is $3.64.

Putnam Premier Income Trust Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Shaker Financial Services LLC lifted its holdings in Putnam Premier Income Trust by 310.8% in the 4th quarter. Shaker Financial Services LLC now owns 141,161 shares of the investment management company’s stock worth $500,000 after buying an additional 106,795 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Putnam Premier Income Trust by 71.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 88,772 shares of the investment management company’s stock valued at $314,000 after acquiring an additional 36,983 shares in the last quarter. Mirador Capital Partners LP purchased a new stake in Putnam Premier Income Trust in the fourth quarter worth $252,000. Riverbridge Partners LLC boosted its holdings in Putnam Premier Income Trust by 157.6% in the fourth quarter. Riverbridge Partners LLC now owns 609,426 shares of the investment management company’s stock valued at $2,157,000 after acquiring an additional 372,890 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. boosted its holdings in Putnam Premier Income Trust by 55.2% in the third quarter. Pin Oak Investment Advisors Inc. now owns 160,370 shares of the investment management company’s stock valued at $592,000 after acquiring an additional 57,050 shares in the last quarter. Hedge funds and other institutional investors own 42.79% of the company’s stock.

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.