Putnam Mast Int (NYSE:PIM) Trading Down 0.3% - Should You Sell?

Key Points

• Putnam Mast Int (NYSE:PIM) experienced a minor share price decline of 0.3%, closing at $3.34, with trading volume down by 5% compared to its average.
• The company announced a monthly dividend of $0.022, payable on October 31st, which reflects an annualized yield of 7.9%.
• Hedge funds have shown interest in Putnam Mast Int, with several institutional investors purchasing shares, collectively owning over 55% of the stock.

Putnam Mast Int (NYSE:PIM - )'s share price dropped 0.3% during trading on Wednesday . The company traded as low as $3.33 and last traded at $3.34. Approximately 50,738 shares changed hands during trading, a decline of 5% from the average daily volume of 53,445 shares. The stock had previously closed at $3.35.

Putnam Mast Int Trading Down 0.3%

The company has a 50-day moving average price of $3.40 and a two-hundred day moving average price of $3.34.

Putnam Mast Int Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a $0.022 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a c) annualized dividend and a yield of 7.9%.

Hedge Funds Weigh In On Putnam Mast Int

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Putnam Mast Int in the 2nd quarter worth approximately $25,000. Global Wealth Strategies & Associates acquired a new position in shares of Putnam Mast Int during the 3rd quarter worth about $32,000. Balefire LLC purchased a new position in shares of Putnam Mast Int in the second quarter valued at approximately $35,000. Concurrent Investment Advisors LLC purchased a new position in Putnam Mast Int in the 1st quarter valued at $35,000. Finally, Perigon Wealth Management LLC purchased a new position in shares of Putnam Mast Int in the first quarter worth about $37,000. 55.06% of the stock is owned by hedge funds and other institutional investors.

About Putnam Mast Int

Putnam Master Intermediate 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 fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.