Putnam Premier Income Trust $PPT Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Putnam Premier Income Trust by 7.6%, now holding approximately 3.62% of the company, valued at about $12.79 million.
• The trust plans to distribute a monthly dividend of $0.026 on October 31st, which reflects an annualized yield of 8.6%.
• Institutional investors collectively own 42.79% of Putnam Premier Income Trust, showing significant interest from hedge funds and other entities in its stock.

Allspring Global Investments Holdings LLC lowered its holdings in shares of Putnam Premier Income Trust (NYSE:PPT - Free Report) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,485,927 shares of the investment management company's stock after selling 285,495 shares during the period. Allspring Global Investments Holdings LLC owned about 3.62% of Putnam Premier Income Trust worth $12,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. IFP Advisors Inc raised its position in Putnam Premier Income Trust by 68.6% during the second quarter. IFP Advisors Inc now owns 19,980 shares of the investment management company's stock worth $73,000 after acquiring an additional 8,130 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Putnam Premier Income Trust by 2.9% during the second quarter. Janney Montgomery Scott LLC now owns 677,347 shares of the investment management company's stock worth $2,486,000 after acquiring an additional 19,161 shares during the last quarter. Riverbridge Partners LLC raised its position in Putnam Premier Income Trust by 2.6% during the second quarter. Riverbridge Partners LLC now owns 233,294 shares of the investment management company's stock worth $856,000 after acquiring an additional 5,839 shares during the last quarter. Gilman Hill Asset Management LLC raised its position in Putnam Premier Income Trust by 22.8% during the second quarter. Gilman Hill Asset Management LLC now owns 35,000 shares of the investment management company's stock worth $128,000 after acquiring an additional 6,500 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in Putnam Premier Income Trust by 2.5% during the first quarter. Integrated Wealth Concepts LLC now owns 114,650 shares of the investment management company's stock worth $414,000 after acquiring an additional 2,833 shares during the last quarter. Institutional investors and hedge funds own 42.79% of the company's stock.

Putnam Premier Income Trust Stock Performance

Shares of PPT opened at $3.61 on Friday. The company has a 50-day moving average of $3.69 and a two-hundred day moving average of $3.65. Putnam Premier Income Trust has a 12-month low of $3.40 and a 12-month high of $3.77.

Putnam Premier Income Trust Announces Dividend

The company 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. This represents a c) dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date of this dividend is Friday, October 17th.

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.

Want to see what other hedge funds are holding PPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Putnam Premier Income Trust (NYSE:PPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.