Short Interest in Putnam Premier Income Trust (NYSE:PPT) Rises By 101.5%

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 53,600 shares, an increase of 101.5% from the February 28th total of 26,600 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 175,100 shares, the short-interest ratio is presently 0.3 days.

Putnam Premier Income Trust Price Performance

Shares of NYSE:PPT traded up $0.03 during trading on Friday, hitting $3.60. 125,767 shares of the stock traded hands, compared to its average volume of 159,703. The company has a fifty day moving average price of $3.59 and a two-hundred day moving average price of $3.61. Putnam Premier Income Trust has a 52-week low of $3.40 and a 52-week high of $3.74.

Putnam Premier Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.026 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.31 dividend on an annualized basis and a yield of 8.68%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PPT. South Plains Financial Inc. purchased a new position in shares of Putnam Premier Income Trust in the 4th quarter valued at about $31,000. Captrust Financial Advisors acquired a new stake in Putnam Premier Income Trust in the 4th quarter worth about $47,000. Jones Financial Companies Lllp boosted its holdings in Putnam Premier Income Trust by 109.8% in the 4th quarter. Jones Financial Companies Lllp now owns 13,716 shares of the investment management company’s stock worth $49,000 after buying an additional 7,177 shares during the last quarter. XTX Topco Ltd purchased a new stake in Putnam Premier Income Trust during the 3rd quarter worth approximately $54,000. Finally, IHT Wealth Management LLC raised its holdings in shares of Putnam Premier Income Trust by 88.4% during the third quarter. IHT Wealth Management LLC now owns 19,566 shares of the investment management company’s stock valued at $73,000 after acquiring an additional 9,183 shares during the last quarter. Institutional investors and hedge funds own 42.79% of the company’s stock.

Putnam Premier Income Trust Company Profile

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.