Putnam Premier Income Trust (NYSE:PPT) Stock Short Interest Declines 71.1%

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totaling 53,531 shares, a drop of 71.1% from the August 31st total of 185,500 shares. Based on an average trading volume of 92,976 shares, the short-interest ratio is currently 0.6 days. Currently, 0.1% of the company’s shares are sold short.

Putnam Premier Income Trust Stock Down 0.5%

Shares of Putnam Premier Income Trust stock traded down $0.01 on Friday, hitting $3.25. 161,460 shares of the company’s stock traded hands, compared to its average volume of 97,229. The company has a fifty day moving average of $3.40 and a two-hundred day moving average of $3.45. Putnam Premier Income Trust has a one year low of $3.24 and a one year high of $3.74.

Putnam Premier Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.0260 dividend. The ex-dividend date is Friday, November 20th. This represents a $0.31 annualized dividend and a dividend yield of 9.6%.

Institutional Investors Weigh In On Putnam Premier Income Trust

Several hedge funds and other institutional investors have recently bought and sold shares of PPT. IFP Advisors Inc raised its stake in Putnam Premier Income Trust by 17.6% during the 2nd quarter. IFP Advisors Inc now owns 23,506 shares of the investment management company’s stock worth $82,000 after buying an additional 3,526 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of Putnam Premier Income Trust by 2.4% in the 2nd quarter. Baird Financial Group Inc. now owns 197,900 shares of the investment management company’s stock worth $691,000 after purchasing an additional 4,650 shares in the last quarter. Readystate Asset Management LP acquired a new stake in Putnam Premier Income Trust in the 2nd quarter valued at $93,000. Pin Oak Investment Advisors Inc. bought a new stake in Putnam Premier Income Trust during the 2nd quarter valued at $567,000. Finally, Mirador Capital Partners LP raised its holdings in Putnam Premier Income Trust by 33.4% during the second quarter. Mirador Capital Partners LP now owns 123,623 shares of the investment management company’s stock worth $431,000 after buying an additional 30,983 shares during the last quarter. 42.79% of the stock is owned by institutional investors.

About Putnam Premier Income Trust

Putnam Premier Income Trust (NYSE: PPT) is a closed-end management investment company that seeks to provide a high level of current income while also pursuing opportunities for capital appreciation. The fund is managed by Putnam Investment Management, LLC, part of Putnam Investments.

The trust invests primarily in a diversified portfolio of income-producing fixed-income securities. Its holdings may include corporate bonds, high-yield securities, bank loans and other debt instruments issued by companies and governments.