Putnam Mast Int (NYSE:PIM) Short Interest Down 37.6% in July

Key Points

• Short interest fell 37.6% to 76,730 shares as of July 15, down from 123,012 shares on June 30. Short interest represents 0.2% of outstanding shares, with a 1.9-day short-interest ratio.
• PIM shares traded at $3.10, near the bottom of their 52-week range of $3.07 to $3.50. The stock’s 50-day and 200-day moving averages were $3.17 and $3.23, respectively.
• The fund declared a monthly dividend of $0.022 per share, implying an 8.5% annualized yield. Institutional investors own 55.06% of the company, with several firms increasing or initiating positions.

Putnam Mast Int (NYSE:PIM - Get Free Report) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 76,730 shares, a decline of 37.6% from the June 30th total of 123,012 shares. Based on an average daily volume of 39,378 shares, the short-interest ratio is currently 1.9 days. Currently, 0.2% of the shares of the company are short sold.

Putnam Mast Int Price Performance

PIM traded down $0.04 during mid-day trading on Thursday, reaching $3.10. 96,017 shares of the company traded hands, compared to its average volume of 79,908. The company's fifty day moving average price is $3.17 and its 200-day moving average price is $3.23. Putnam Mast Int has a 52-week low of $3.07 and a 52-week high of $3.50.

Putnam Mast Int Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a dividend of $0.022 per share. This represents a c) dividend on an annualized basis and a yield of 8.5%. The ex-dividend date is Monday, August 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. PVG Asset Management Corp grew its stake in shares of Putnam Mast Int by 155.2% during the 1st quarter. PVG Asset Management Corp now owns 1,231,891 shares of the company's stock valued at $3,967,000 after purchasing an additional 749,132 shares during the period. Northstar Financial Companies Inc. bought a new position in shares of Putnam Mast Int in the 1st quarter worth approximately $49,000. Fifth Third Bancorp purchased a new position in shares of Putnam Mast Int in the first quarter worth approximately $120,000. WealthTrust Axiom LLC boosted its holdings in shares of Putnam Mast Int by 11.3% in the fourth quarter. WealthTrust Axiom LLC now owns 108,000 shares of the company's stock worth $361,000 after buying an additional 11,000 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in Putnam Mast Int during the fourth quarter valued at approximately $45,000. Institutional investors own 55.06% of the company's stock.

About Putnam Mast Int

Putnam Master International NYSE: PIM is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in equity securities of non-U.S. companies. The fund maintains a diversified portfolio spanning developed and emerging markets, with a focus on identifying businesses offering strong growth potential, attractive valuations and sound corporate governance. Shares of PIM trade on the NYSE, providing investors with a fixed capital structure and the opportunity to gain exposure to global equity markets through a single vehicle.

The fund's investment team, managed by Putnam Retail Management LP, conducts bottom-up fundamental analysis to select holdings across multiple industries and geographies.

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