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

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

Institutional Trading of Putnam Premier Income Trust

Hedge funds have recently bought and sold shares of the stock. Sit Investment Associates Inc. raised its position in shares of Putnam Premier Income Trust by 8.4% during the 4th quarter. Sit Investment Associates Inc. now owns 21,876,912 shares of the investment management company's stock valued at $77,882,000 after buying an additional 1,689,141 shares in the last quarter. 1607 Capital Partners LLC raised its position in shares of Putnam Premier Income Trust by 94.0% during the 4th quarter. 1607 Capital Partners LLC now owns 1,961,373 shares of the investment management company's stock valued at $6,982,000 after buying an additional 950,379 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Putnam Premier Income Trust during the 4th quarter valued at about $2,128,000. Essential Planning LLC. purchased a new stake in shares of Putnam Premier Income Trust during the 4th quarter valued at about $817,000. Finally, Intellus Advisors LLC purchased a new stake in shares of Putnam Premier Income Trust during the 4th quarter valued at about $362,000. Hedge funds and other institutional investors own 42.79% of the company's stock.

Putnam Premier Income Trust Trading Up 0.4%

Putnam Premier Income Trust stock traded up $0.02 during mid-day trading on Tuesday, hitting $3.70. The stock had a trading volume of 196,147 shares, compared to its average volume of 168,374. The firm's 50 day moving average is $3.60 and its 200 day moving average is $3.59. Putnam Premier Income Trust has a one year low of $3.40 and a one year high of $3.74.

Putnam Premier Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.026 dividend. This represents a $0.31 annualized dividend and a yield of 8.44%. The ex-dividend date was Monday, May 19th.

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.