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

Key Points

• Putnam Premier Income Trust (NYSE:PPT) shares have risen above their 200-day moving average at $3.63, marking a current trading price of $3.74 with a volume of 361,347 shares.
• The trust recently declared a monthly dividend of $0.026 per share, which will be paid on October 31, representing an annualized yield of 8.3%.
• Institutional investors hold 42.79% of Putnam Premier Income Trust shares, with notable increases from firms such as Sit Investment Associates Inc. and 1607 Capital Partners LLC in the last quarter.

Putnam Premier Income Trust (NYSE:PPT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.63 and traded as high as $3.75. Putnam Premier Income Trust shares last traded at $3.74, with a volume of 361,347 shares changing hands.

Putnam Premier Income Trust Stock Up 0.8%

The business's 50 day moving average is $3.67 and its two-hundred day moving average is $3.63.

Putnam Premier Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $0.026 dividend. This represents a c) annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Friday, October 17th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PPT. IFP Advisors Inc boosted its holdings in Putnam Premier Income Trust by 138.0% in the 1st quarter. IFP Advisors Inc now owns 11,850 shares of the investment management company's stock valued at $43,000 after purchasing an additional 6,871 shares during the period. Captrust Financial Advisors bought a new position in Putnam Premier Income Trust in the 4th quarter valued at $47,000. Baird Financial Group Inc. bought a new position in Putnam Premier Income Trust in the 1st quarter valued at $80,000. Ethos Financial Group LLC bought a new position in Putnam Premier Income Trust in the 1st quarter valued at $96,000. Finally, Citadel Advisors LLC bought a new stake in shares of Putnam Premier Income Trust during the 4th quarter worth $110,000. 42.79% of the stock is owned by institutional investors.

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.