Putnam Premier Income Trust (NYSE:PPT) Short Interest Up 145.3% in August

Key Points

• Short interest surged 145.3% in August to 185,500 shares, representing 0.2% of outstanding shares and a days-to-cover ratio of 1.4.
• PPT shares fell 0.2% to $3.31, matching the stock’s one-year low and remaining below its 50-day and 200-day moving averages.
• The trust declared a monthly dividend of $0.026 per share, implying an annualized yield of approximately 9.4%; institutional investors own 42.79% of the shares.

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 185,500 shares, an increase of 145.3% from the August 15th total of 75,628 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 127,942 shares, the days-to-cover ratio is presently 1.4 days.

Putnam Premier Income Trust Stock Down 0.2%

PPT stock traded down $0.01 during midday trading on Friday, reaching $3.31. The company had a trading volume of 146,187 shares, compared to its average volume of 101,256. The company has a 50 day moving average of $3.43 and a two-hundred day moving average of $3.47. Putnam Premier Income Trust has a 1 year low of $3.31 and a 1 year high of $3.77.

Putnam Premier Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) dividend on an annualized basis and a yield of 9.4%.

Institutional Investors Weigh In On Putnam Premier Income Trust

A number of large investors have recently bought and sold shares of the business. Sit Investment Associates Inc. boosted its holdings in shares of Putnam Premier Income Trust by 3.6% during the 4th quarter. Sit Investment Associates Inc. now owns 28,292,873 shares of the investment management company's stock worth $100,157,000 after buying an additional 992,088 shares during the period. Advisors Asset Management Inc. bought a new position in Putnam Premier Income Trust during the fourth quarter valued at about $820,000. Invesco Ltd. increased its position in shares of Putnam Premier Income Trust by 24.2% during the third quarter. Invesco Ltd. now owns 1,179,068 shares of the investment management company's stock valued at $4,351,000 after purchasing an additional 229,753 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in Putnam Premier Income Trust in the 2nd quarter valued at $567,000. Finally, Balyasny Asset Management L.P. acquired a new position in Putnam Premier Income Trust in the fourth quarter worth about $466,000. 42.79% of the stock is currently owned by institutional investors.

About Putnam Premier Income Trust

Putnam Premier Income Trust NYSE: PPT is a diversified closed-end management investment company that seeks to provide current income with a secondary objective of capital appreciation. The trust pursues income through a portfolio of domestic and international fixed-income and equity securities, including high-yield corporate bonds, investment-grade debt, preferred securities and dividend-paying stocks. Its investment strategy emphasizes diversification across credit quality, sector and geography to balance income generation with risk management.

The fund employs leverage, including borrowing and preferred shares, to enhance its income potential within regulatory limits.

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