Short Interest in Putnam Premier Income Trust (NYSE:PPT) Increases By 225.0%

Putnam Premier Income Trust (NYSE:PPT) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 29,900 shares, a growth of 225.0% from the September 30th total of 9,200 shares. Based on an average daily volume of 125,300 shares, the short-interest ratio is currently 0.2 days.

Putnam Premier Income Trust Price Performance

Shares of PPT stock traded up $0.01 during trading hours on Friday, hitting $3.62. 91,010 shares of the company’s stock were exchanged, compared to its average volume of 145,022. The stock’s 50-day moving average is $3.69 and its 200-day moving average is $3.59. Putnam Premier Income Trust has a 52 week low of $3.26 and a 52 week high of $3.74.

Putnam Premier Income Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were issued a $0.026 dividend. This represents a $0.31 annualized dividend and a yield of 8.62%. The ex-dividend date of this dividend was Tuesday, September 24th.

Hedge Funds Weigh In On Putnam Premier Income Trust

Several hedge funds have recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in Putnam Premier Income Trust by 8.3% in the second quarter. Creative Planning now owns 83,867 shares of the investment management company’s stock valued at $300,000 after acquiring an additional 6,400 shares during the last quarter. Future Financial Wealth Managment LLC lifted its stake in Putnam Premier Income Trust by 5.8% in the third quarter. Future Financial Wealth Managment LLC now owns 133,630 shares of the investment management company’s stock valued at $498,000 after buying an additional 7,382 shares during the period. Luken Investment Analytics LLC acquired a new position in Putnam Premier Income Trust in the second quarter valued at about $29,000. Gilman Hill Asset Management LLC lifted its stake in Putnam Premier Income Trust by 73.3% in the third quarter. Gilman Hill Asset Management LLC now owns 26,000 shares of the investment management company’s stock valued at $97,000 after buying an additional 11,000 shares during the period. Finally, Valley Brook Capital Group Inc. lifted its stake in Putnam Premier Income Trust by 32.0% in the second quarter. Valley Brook Capital Group Inc. now owns 87,875 shares of the investment management company’s stock valued at $315,000 after buying an additional 21,325 shares during the period. Institutional investors own 42.79% of the company’s stock.

About Putnam Premier Income Trust

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.