Putnam Premier Income Trust (NYSE:PPT) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Putnam Premier Income Trust's share price has surpassed its 200-day moving average of $3.65, trading at $3.70 during the session.
• The investment firm announced a monthly dividend of $0.026 per share, yielding an annualized rate of 8.5%, with the ex-dividend date set for October 17th.
• Institutional investors and hedge funds hold 42.79% of Putnam Premier Income Trust, with significant increases in holdings reported by several funds.

Putnam Premier Income Trust (NYSE:PPT - )'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.65 and traded as high as $3.70. Putnam Premier Income Trust shares last traded at $3.68, with a volume of 513,636 shares trading hands.

Putnam Premier Income Trust Price Performance

The business's 50-day simple moving average is $3.69 and its two-hundred day simple moving average is $3.65.

Putnam Premier Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a dividend of $0.026 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date is Friday, October 17th.

Hedge Funds Weigh In On Putnam Premier Income Trust

A number of hedge funds have recently modified their holdings of PPT. Sit Investment Associates Inc. lifted its holdings in shares of Putnam Premier Income Trust by 5.0% during the first quarter. Sit Investment Associates Inc. now owns 22,981,484 shares of the investment management company's stock worth $82,963,000 after purchasing an additional 1,104,572 shares during the period. 1607 Capital Partners LLC lifted its holdings in shares of 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 worth $7,908,000 after purchasing an additional 229,277 shares during the period. Captrust Financial Advisors acquired a new position in shares of Putnam Premier Income Trust during the second quarter worth $465,000. Readystate Asset Management LP acquired a new position in shares of Putnam Premier Income Trust during the first quarter worth $316,000. Finally, Allworth Financial LP acquired a new position in shares of Putnam Premier Income Trust during the second quarter worth $188,000. Institutional investors and hedge funds own 42.79% of the company's stock.

About Putnam Premier Income Trust

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.

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