Putnam Premier Income Trust (NYSE:PPT) Short Interest Update

Key Points

• Putnam Premier Income Trust experienced a significant increase in short interest totaling 82,200 shares as of September 30, representing a growth of 129.0% from mid-September.
• The company recently announced a monthly dividend of $0.026, with a scheduled payment date of October 31 and a dividend yield of 8.5%.
• Institutional investors hold 42.79% of Putnam Premier Income Trust's stock, with notable increases in holdings from firms like IFP Advisors Inc and Gilman Hill Asset Management LLC.

Putnam Premier Income Trust (NYSE:PPT - ) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 82,200 shares, a growth of 129.0% from the September 15th total of 35,900 shares. Based on an average daily trading volume, of 217,700 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 217,700 shares, the short-interest ratio is currently 0.4 days.

Putnam Premier Income Trust Price Performance

Shares of PPT traded up $0.04 during mid-day trading on Monday, hitting $3.65. 318,336 shares of the company's stock were exchanged, compared to its average volume of 207,245. Putnam Premier Income Trust has a 52 week low of $3.40 and a 52 week high of $3.77. The company has a 50-day simple moving average of $3.69 and a 200 day simple moving average of $3.65.

Putnam Premier Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a $0.026 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a c) annualized dividend and a dividend yield of 8.5%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PPT. IFP Advisors Inc boosted its position in Putnam Premier Income Trust by 138.0% during the first quarter. IFP Advisors Inc now owns 11,850 shares of the investment management company's stock worth $43,000 after purchasing an additional 6,871 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Putnam Premier Income Trust in the first quarter valued at approximately $80,000. Ethos Financial Group LLC acquired a new stake in Putnam Premier Income Trust during the 1st quarter valued at approximately $96,000. Gilman Hill Asset Management LLC increased its position in Putnam Premier Income Trust by 22.8% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 35,000 shares of the investment management company's stock valued at $128,000 after purchasing an additional 6,500 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Putnam Premier Income Trust during the 2nd quarter worth approximately $169,000. Institutional investors 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.

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