Putnam Premier Income Trust (NYSE:PPT) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• The share price of Putnam Premier Income Trust (NYSE:PPT) recently surpassed its 200-day moving average of $3.62, reaching a high of $3.69 during trading, with current shares at $3.68.
• A monthly dividend of $0.026 per share has been announced, with an annual yield of 8.5%, to be paid on November 28th.
• Several institutional investors, including Sit Investment Associates and 1607 Capital Partners, have significantly increased their holdings in Putnam Premier Income Trust, indicating a growing interest in the stock.

Putnam Premier Income Trust (NYSE:PPT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.62 and traded as high as $3.69. Putnam Premier Income Trust shares last traded at $3.68, with a volume of 125,373 shares trading hands.

Putnam Premier Income Trust Stock Down 0.1%

The company's fifty day moving average price is $3.66 and its two-hundred day moving average price is $3.62.

Putnam Premier Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be issued a dividend of $0.026 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a c) dividend on an annualized basis and a yield of 8.5%.

Hedge Funds Weigh In On Putnam Premier Income Trust

Institutional investors have recently modified their holdings of the company. Intellus Advisors LLC grew its stake in Putnam Premier Income Trust by 3.6% during the second quarter. Intellus Advisors LLC now owns 106,830 shares of the investment management company's stock worth $392,000 after buying an additional 3,720 shares during the period. Allworth Financial LP acquired a new stake in Putnam Premier Income Trust in the second quarter valued at $188,000. International Assets Investment Management LLC raised its holdings in shares of Putnam Premier Income Trust by 66.5% during the second quarter. International Assets Investment Management LLC now owns 53,079 shares of the investment management company's stock worth $195,000 after purchasing an additional 21,200 shares during the period. IFP Advisors Inc raised its holdings in shares of Putnam Premier Income Trust by 68.6% during the second quarter. IFP Advisors Inc now owns 19,980 shares of the investment management company's stock worth $73,000 after purchasing an additional 8,130 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Putnam Premier Income Trust by 2.9% during the second quarter. Janney Montgomery Scott LLC now owns 677,347 shares of the investment management company's stock worth $2,486,000 after purchasing an additional 19,161 shares during the period. Institutional investors and hedge funds own 42.79% of the company's stock.

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.