Putnam Premier Income Trust (NYSE:PPT) Short Interest Down 58.0% in April

Key Points

• Short interest plunged 58% in April to 181,533 shares (about 0.2% of the stock), leaving a short-interest ratio of roughly 1.3 days based on average daily volume.
• Monthly dividend declared: $0.026 per share with an ex-dividend date of May 21 and payment on May 29, implying a roughly 9.0% annualized yield.
• Significant institutional ownership: Hedge funds and other institutions own about 42.79% of the trust, and several firms initiated or increased small positions in recent quarters.

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 181,533 shares, a decrease of 58.0% from the March 31st total of 432,300 shares. Currently, 0.2% of the company's stock are sold short. Based on an average daily trading volume, of 141,139 shares, the short-interest ratio is presently 1.3 days.

Institutional Trading of Putnam Premier Income Trust

Institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in Putnam Premier Income Trust in the fourth quarter worth about $32,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Putnam Premier Income Trust during the fourth quarter valued at approximately $33,000. Global Retirement Partners LLC grew its holdings in shares of Putnam Premier Income Trust by 104.1% during the fourth quarter. Global Retirement Partners LLC now owns 10,354 shares of the investment management company's stock valued at $37,000 after buying an additional 5,282 shares during the last quarter. Integrity Advisory Solutions LLC bought a new stake in shares of Putnam Premier Income Trust during the third quarter valued at approximately $44,000. Finally, UMB Bank n.a. bought a new stake in shares of Putnam Premier Income Trust during the fourth quarter valued at approximately $43,000. 42.79% of the stock is owned by hedge funds and other institutional investors.

Putnam Premier Income Trust Stock Up 0.1%

NYSE:PPT traded up $0.01 during trading hours on Friday, reaching $3.49. 44,567 shares of the company traded hands, compared to its average volume of 141,757. The business's 50-day moving average price is $3.55 and its two-hundred day moving average price is $3.59. Putnam Premier Income Trust has a 1 year low of $3.42 and a 1 year high of $3.77.

Putnam Premier Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.026 per share. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 9.0%.

About Putnam Premier Income Trust

Putnam Premier Income Trust NYSE: PPT is a diversified closed-end management investment company that seeks to provide current income with a secondary objective of capital appreciation. The trust pursues income through a portfolio of domestic and international fixed-income and equity securities, including high-yield corporate bonds, investment-grade debt, preferred securities and dividend-paying stocks. Its investment strategy emphasizes diversification across credit quality, sector and geography to balance income generation with risk management.

The fund employs leverage, including borrowing and preferred shares, to enhance its income potential within regulatory limits.

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