Putnam Premier Income Trust (NYSE:PPT) Shares Cross Below 200-Day Moving Average - What's Next?

Key Points

• Putnam Premier Income Trust shares fell below their 200-day moving average of $3.44, trading as low as $3.26 and last changing hands at $3.2650.
• The trust declared a monthly dividend of $0.026 per share, equivalent to approximately $0.31 annually and a 9.6% yield.
• Institutional investors and hedge funds own 42.79% of the stock, with several firms increasing their positions or establishing new stakes during the second quarter.

Shares of Putnam Premier Income Trust (NYSE:PPT - Get Free Report) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $3.44 and traded as low as $3.26. Putnam Premier Income Trust shares last traded at $3.2650, with a volume of 180,002 shares trading hands.

Putnam Premier Income Trust Stock Performance

The stock's 50 day moving average is $3.38 and its two-hundred day moving average is $3.44.

Putnam Premier Income Trust Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in shares of Putnam Premier Income Trust by 17.6% in the second quarter. IFP Advisors Inc now owns 23,506 shares of the investment management company's stock valued at $82,000 after buying an additional 3,526 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Putnam Premier Income Trust by 2.4% during the 2nd quarter. Baird Financial Group Inc. now owns 197,900 shares of the investment management company's stock worth $691,000 after acquiring an additional 4,650 shares during the period. Readystate Asset Management LP purchased a new position in shares of Putnam Premier Income Trust during the 2nd quarter worth about $93,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Putnam Premier Income Trust in the second quarter worth approximately $567,000. Finally, Mirador Capital Partners LP boosted its position in shares of Putnam Premier Income Trust by 33.4% in the second quarter. Mirador Capital Partners LP now owns 123,623 shares of the investment management company's stock worth $431,000 after acquiring an additional 30,983 shares during the last quarter. 42.79% of the stock is currently owned by institutional investors and hedge funds.

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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