Putnam Premier Income Trust (NYSE:PPT) Declares Monthly Dividend of $0.03

Key Points

• Putnam Premier Income Trust declared a monthly dividend of $0.026 per share, payable September 30 to shareholders of record on September 23. The dividend carries a reported 9.1% annualized yield, with September 23 as the ex-dividend date.
• PPT shares opened at $3.42, down 0.1%, and remain near the lower end of their 12-month range of $3.37 to $3.77.
• Institutional ownership stands at 42.79%, with several investment firms increasing their positions. The closed-end fund invests across fixed-income and equity securities and uses leverage to enhance income potential.

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) announced a monthly dividend on Wednesday, August 5th. Shareholders of record on Wednesday, September 23rd will be paid a dividend of 0.026 per share by the investment management company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Putnam Premier Income Trust Stock Down 0.1%

PPT opened at $3.42 on Thursday. The stock's 50 day moving average price is $3.44 and its two-hundred day moving average price is $3.51. Putnam Premier Income Trust has a 12-month low of $3.37 and a 12-month high of $3.77.

Hedge Funds Weigh In On Putnam Premier Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirador Capital Partners LP grew its holdings in shares of Putnam Premier Income Trust by 33.4% during the 2nd quarter. Mirador Capital Partners LP now owns 123,623 shares of the investment management company's stock worth $431,000 after purchasing an additional 30,983 shares in the last quarter. Quad Cities Investment Group LLC boosted its position in shares of Putnam Premier Income Trust by 10.7% during the 2nd quarter. Quad Cities Investment Group LLC now owns 273,312 shares of the investment management company's stock valued at $954,000 after acquiring an additional 26,347 shares in the last quarter. Oder Investment Management LLC increased its stake in Putnam Premier Income Trust by 5.4% in the first quarter. Oder Investment Management LLC now owns 74,587 shares of the investment management company's stock valued at $265,000 after acquiring an additional 3,795 shares during the period. Summit Securities Group LLC bought a new position in Putnam Premier Income Trust during the first quarter worth about $29,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Putnam Premier Income Trust by 9.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 774,899 shares of the investment management company's stock worth $2,751,000 after buying an additional 67,945 shares in the last quarter. 42.79% of the stock is currently owned by institutional investors.

Putnam Premier Income Trust Company Profile

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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