Putnam Premier Income Trust $PPT Shares Bought by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. increased its stake in Putnam Premier Income Trust by 5.0%, acquiring an additional 1,104,572 shares during the first quarter, bringing its total holdings to approximately 22.98 million shares.
• Putnam Premier Income Trust announced a monthly dividend of $0.026 per share, scheduled for payment on November 28th, which reflects an annualized yield of 8.5%.
• The stock has shown a stable performance with a 52-week low of $3.40 and a high of $3.74, currently trading at $3.68.

Sit Investment Associates Inc. boosted its position in Putnam Premier Income Trust (NYSE:PPT - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,981,484 shares of the investment management company's stock after purchasing an additional 1,104,572 shares during the period. Putnam Premier Income Trust makes up approximately 1.9% of Sit Investment Associates Inc.'s investment portfolio, making the stock its 7th biggest holding. Sit Investment Associates Inc. owned approximately 23.87% of Putnam Premier Income Trust worth $82,963,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PPT. 1607 Capital Partners LLC raised its stake in shares of Putnam Premier Income Trust by 94.0% during the fourth quarter. 1607 Capital Partners LLC now owns 1,961,373 shares of the investment management company's stock valued at $6,982,000 after acquiring an additional 950,379 shares in the last quarter. Invesco Ltd. increased its holdings in Putnam Premier Income Trust by 1.1% during the first quarter. Invesco Ltd. now owns 1,166,601 shares of the investment management company's stock valued at $4,211,000 after buying an additional 12,266 shares during the period. Janney Montgomery Scott LLC increased its holdings in Putnam Premier Income Trust by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 658,186 shares of the investment management company's stock valued at $2,376,000 after buying an additional 3,108 shares during the period. Raymond James Financial Inc. purchased a new position in Putnam Premier Income Trust during the fourth quarter valued at approximately $2,128,000. Finally, Quad Cities Investment Group LLC increased its holdings in Putnam Premier Income Trust by 1.1% during the first quarter. Quad Cities Investment Group LLC now owns 287,920 shares of the investment management company's stock valued at $1,039,000 after buying an additional 3,229 shares during the period. Institutional investors own 42.79% of the company's stock.

Putnam Premier Income Trust Stock Performance

PPT stock traded down $0.01 during trading on Monday, hitting $3.68. 180,849 shares of the company's stock traded hands, compared to its average volume of 191,338. The business has a fifty day simple moving average of $3.66 and a two-hundred day simple moving average of $3.62. Putnam Premier Income Trust has a 1 year low of $3.40 and a 1 year high of $3.74.

Putnam Premier Income Trust Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th will be issued a $0.026 dividend. This represents a yield of 846.0%. The ex-dividend date of this dividend is Monday, August 18th.

Putnam Premier Income Trust 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.