1607 Capital Partners LLC Grows Position in Putnam Premier Income Trust $PPT

Key Points

• 1607 Capital Partners LLC increased its stake in Putnam Premier Income Trust by 11.7%, owning 2,190,650 shares valued at approximately $7.9 million.
• The firm announced a monthly dividend of $0.026, which will be paid on October 31st, representing an annualized dividend yield of 8.4%.
• Shares of Putnam Premier Income Trust opened at $3.70, with a 52-week high of $3.74 and a low of $3.40, indicating modest fluctuations in stock value.

1607 Capital Partners LLC grew its stake in shares of Putnam Premier Income Trust (NYSE:PPT - Free Report) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,190,650 shares of the investment management company's stock after buying an additional 229,277 shares during the period. 1607 Capital Partners LLC owned 2.28% of Putnam Premier Income Trust worth $7,908,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PPT. IFP Advisors Inc increased its position in Putnam Premier Income Trust by 138.0% during the first quarter. IFP Advisors Inc now owns 11,850 shares of the investment management company's stock worth $43,000 after buying an additional 6,871 shares in the last quarter. Captrust Financial Advisors purchased a new position in Putnam Premier Income Trust during the fourth quarter worth $47,000. Baird Financial Group Inc. purchased a new position in Putnam Premier Income Trust during the first quarter worth $80,000. Ethos Financial Group LLC purchased a new position in Putnam Premier Income Trust during the first quarter worth $96,000. Finally, Citadel Advisors LLC purchased a new position in Putnam Premier Income Trust during the fourth quarter worth $110,000. Hedge funds and other institutional investors own 42.79% of the company's stock.

Putnam Premier Income Trust Stock Down 0.9%

Shares of NYSE:PPT opened at $3.70 on Tuesday. Putnam Premier Income Trust has a 52 week low of $3.40 and a 52 week high of $3.74. The business has a fifty day simple moving average of $3.66 and a 200-day simple moving average of $3.63.

Putnam Premier Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a $0.026 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a c) dividend on an annualized basis and a dividend yield of 8.4%.

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.

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