Putnam Premier Income Trust (NYSE:PPT) Short Interest Down 78.5% in September

Key Points

• Short interest in Putnam Premier Income Trust fell by 78.5% in September, dropping from 167,100 shares to 35,900 shares.
• The trust declared a monthly dividend of $0.026 per share, set to be paid on October 31, with an annualized yield of 8.4%.
• Institutional investors currently own 42.79% of the stock, with multiple firms increasing their holdings in recent quarters.

Putnam Premier Income Trust (NYSE:PPT - ) saw a large decline in short interest in September. As of September 15th, there was short interest totaling 35,900 shares, a decline of 78.5% from the August 31st total of 167,100 shares. Based on an average daily volume of 211,700 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 211,700 shares, the days-to-cover ratio is presently 0.2 days.

Putnam Premier Income Trust Price Performance

PPT traded up $0.02 during trading on Wednesday, reaching $3.71. The company's stock had a trading volume of 47,319 shares, compared to its average volume of 195,684. Putnam Premier Income Trust has a 52-week low of $3.40 and a 52-week high of $3.77. The company's fifty day moving average price is $3.69 and its 200-day moving average price is $3.64.

Putnam Premier Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a dividend of $0.026 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date is Friday, October 17th.

Institutional Investors Weigh In On Putnam Premier Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sit Investment Associates Inc. lifted its position in shares of Putnam Premier Income Trust by 5.0% during the 1st quarter. Sit Investment Associates Inc. now owns 22,981,484 shares of the investment management company's stock valued at $82,963,000 after acquiring an additional 1,104,572 shares during the period. 1607 Capital Partners LLC lifted its position in shares of Putnam Premier Income Trust by 11.7% during the 1st 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 during the period. Invesco Ltd. raised its position in shares of Putnam Premier Income Trust by 1.1% during the 1st quarter. Invesco Ltd. now owns 1,166,601 shares of the investment management company's stock worth $4,211,000 after purchasing an additional 12,266 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Putnam Premier Income Trust by 2.9% during the 2nd 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 last quarter. Finally, Osaic Holdings Inc. raised its position in shares of Putnam Premier Income Trust by 16.6% during the 2nd quarter. Osaic Holdings Inc. now owns 250,042 shares of the investment management company's stock worth $918,000 after purchasing an additional 35,615 shares during the last quarter. 42.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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