Short Interest in Putnam Premier Income Trust (NYSE:PPT) Increases By 180.8%

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 251,000 shares, a growth of 180.8% from the April 30th total of 89,400 shares. Based on an average daily trading volume, of 204,000 shares, the short-interest ratio is presently 1.2 days. Approximately 0.3% of the company's shares are short sold.

Hedge Funds Weigh In On Putnam Premier Income Trust

Hedge funds have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. grew its position in shares of Putnam Premier Income Trust by 5.0% during the 1st quarter. Sit Investment Associates Inc. now owns 22,981,484 shares of the investment management company's stock worth $82,963,000 after buying an additional 1,104,572 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Putnam Premier Income Trust by 0.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,779,876 shares of the investment management company's stock valued at $13,456,000 after purchasing an additional 18,675 shares during the period. 1607 Capital Partners LLC grew its holdings in Putnam Premier Income Trust by 11.7% during the first quarter. 1607 Capital Partners LLC now owns 2,190,650 shares of the investment management company's stock valued at $7,908,000 after purchasing an additional 229,277 shares during the period. Invesco Ltd. raised its holdings in Putnam Premier Income Trust by 1.1% in the first quarter. Invesco Ltd. now owns 1,166,601 shares of the investment management company's stock worth $4,211,000 after purchasing an additional 12,266 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Putnam Premier Income Trust by 0.5% in the first quarter. Janney Montgomery Scott LLC now owns 658,186 shares of the investment management company's stock worth $2,376,000 after purchasing an additional 3,108 shares during the period. Institutional investors and hedge funds own 42.79% of the company's stock.

Putnam Premier Income Trust Stock Performance

Shares of Putnam Premier Income Trust stock traded up $0.01 on Friday, hitting $3.72. 216,743 shares of the company's stock traded hands, compared to its average volume of 168,072. The firm's 50-day moving average price is $3.60 and its two-hundred day moving average price is $3.58. Putnam Premier Income Trust has a one year low of $3.40 and a one year high of $3.74.

Putnam Premier Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.026 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.31 dividend on an annualized basis and a yield of 8.40%.

Putnam Premier Income Trust Company Profile

Putnam Premier 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 public fixed income markets across the globe. The fund primarily invests in U.S. high-grade and high-yield bonds with an average credit quality of BBB by S&P Corporation.