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Putnam Premier Income Trust (NYSE:PPT) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Putnam Premier Income Trust logo with Finance background

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.61 and traded as high as $3.68. Putnam Premier Income Trust shares last traded at $3.66, with a volume of 182,638 shares changing hands.

Putnam Premier Income Trust Price Performance

The firm has a 50 day simple moving average of $3.66 and a 200-day simple moving average of $3.61.

Putnam Premier Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 18th will be issued a dividend of $0.026 per share. This represents a $0.31 annualized dividend and a dividend yield of 8.54%. The ex-dividend date of this dividend is Friday, July 18th.

Hedge Funds Weigh In On Putnam Premier Income Trust

A number of hedge funds have recently added to or reduced their stakes in PPT. Gilman Hill Asset Management LLC grew its position in Putnam Premier Income Trust by 22.8% in the second quarter. Gilman Hill Asset Management LLC now owns 35,000 shares of the investment management company's stock worth $128,000 after acquiring an additional 6,500 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Putnam Premier Income Trust by 2.5% during the first quarter. Integrated Wealth Concepts LLC now owns 114,650 shares of the investment management company's stock valued at $414,000 after purchasing an additional 2,833 shares during the last quarter. 1607 Capital Partners LLC increased its position 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 valued at $7,908,000 after acquiring an additional 229,277 shares in the last quarter. Royal Bank of Canada grew its position in Putnam Premier Income Trust by 9.0% in the 1st quarter. Royal Bank of Canada now owns 190,812 shares of the investment management company's stock worth $689,000 after purchasing an additional 15,743 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in shares of Putnam Premier Income Trust during the 1st quarter valued at $80,000. Institutional investors and hedge funds own 42.79% of the company's stock.

Putnam Premier Income Trust Company Profile

(Get Free Report)

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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