Putnam Premier Income Trust (NYSE:PPT) Stock Short Interest Climbs 68.8%

Key Points

• Short interest in Putnam Premier Income Trust rose 68.8% to 90,346 shares as of September 30, representing about 0.1% of shares outstanding and a 0.6-day days-to-cover ratio.
• Institutional ownership stands at 42.79%, with several investors increasing their positions during the first and second quarters; Pin Oak Investment Advisors also initiated a new stake.
• PPT traded at $3.25, near its 12-month low, while the trust declared a monthly dividend of $0.026 per share, implying an annualized yield of approximately 9.6%.

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 90,346 shares, a growth of 68.8% from the September 15th total of 53,531 shares. Based on an average daily volume of 144,326 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Trading of Putnam Premier Income Trust

Large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its holdings in shares of Putnam Premier Income Trust by 9.6% in the first quarter. Janney Montgomery Scott LLC now owns 774,899 shares of the investment management company's stock valued at $2,751,000 after purchasing an additional 67,945 shares in the last quarter. Riverbridge Partners LLC increased its position in Putnam Premier Income Trust by 3.9% in the first quarter. Riverbridge Partners LLC now owns 633,159 shares of the investment management company's stock worth $2,248,000 after purchasing an additional 23,733 shares during the last quarter. Quad Cities Investment Group LLC increased its position in Putnam Premier Income Trust by 10.7% in the second quarter. Quad Cities Investment Group LLC now owns 273,312 shares of the investment management company's stock worth $954,000 after purchasing an additional 26,347 shares during the last quarter. Baird Financial Group Inc. increased its position in Putnam Premier Income Trust by 2.4% in the second quarter. Baird Financial Group Inc. now owns 197,900 shares of the investment management company's stock worth $691,000 after purchasing an additional 4,650 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Putnam Premier Income Trust during the second quarter valued at $567,000. Institutional investors own 42.79% of the company's stock.

Putnam Premier Income Trust Trading Up 1.1%

NYSE:PPT opened at $3.25 on Friday. Putnam Premier Income Trust has a 12 month low of $3.21 and a 12 month high of $3.69. The business's 50-day moving average is $3.36 and its 200 day moving average is $3.43.

Putnam Premier Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.0260 per share. This represents a $0.31 annualized dividend and a yield of 9.6%. The ex-dividend date is Friday, November 20th.

Putnam Premier Income Trust Company Profile

Putnam Premier Income Trust NYSE: PPT is a closed-end management investment company that seeks to provide investors with a high level of current income. The trust pursues its objective primarily by investing in a diversified portfolio of fixed-income securities.

Its portfolio may include corporate bonds, government and agency securities, mortgage- and asset-backed securities, and other debt instruments. The trust may invest in both investment-grade and below-investment-grade securities, including obligations issued by companies and governments outside the United States, giving it exposure to a range of domestic and international fixed-income markets.

Putnam Premier Income Trust is advised by Putnam Investment Management, a global asset-management firm and part of Franklin Resources.

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