Putnam Premier Income Trust (NYSE:PPT) Short Interest Down 79.0% in February

Putnam Premier Income Trust (NYSE:PPT) saw a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 26,400 shares, a decline of 79.0% from the January 31st total of 125,700 shares. Based on an average daily volume of 191,800 shares, the days-to-cover ratio is currently 0.1 days.

Putnam Premier Income Trust Price Performance

Shares of PPT traded up $0.03 during mid-day trading on Friday, hitting $3.61. 159,947 shares of the company’s stock were exchanged, compared to its average volume of 156,273. Putnam Premier Income Trust has a fifty-two week low of $3.40 and a fifty-two week high of $3.74. The business’s 50 day moving average is $3.59 and its two-hundred day moving average is $3.62.

Putnam Premier Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 24th will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.31 dividend on an annualized basis and a yield of 8.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PPT. Sit Investment Associates Inc. lifted its holdings in shares of Putnam Premier Income Trust by 8.4% during the fourth quarter. Sit Investment Associates Inc. now owns 21,876,912 shares of the investment management company’s stock worth $77,882,000 after purchasing an additional 1,689,141 shares during the period. 1607 Capital Partners LLC raised its position in Putnam Premier Income Trust by 94.0% during the 4th quarter. 1607 Capital Partners LLC now owns 1,961,373 shares of the investment management company’s stock worth $6,982,000 after buying an additional 950,379 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Putnam Premier Income Trust in the 4th quarter worth $2,128,000. Essential Planning LLC. purchased a new stake in shares of Putnam Premier Income Trust in the fourth quarter valued at about $817,000. Finally, Transform Wealth LLC purchased a new stake in shares of Putnam Premier Income Trust in the fourth quarter valued at about $560,000. 42.79% of the stock is currently owned by hedge funds and other institutional investors.

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.