Short Interest in Putnam Premier Income Trust (NYSE:PPT) Declines By 53.9%

Key Points

• Short interest in Putnam Premier Income Trust (NYSE:PPT) fell sharply in June, dropping 53.9% to 15,689 shares as of June 30 from 34,061 shares two weeks earlier.
• The fund’s stock was trading around $3.44, near its 52-week low of $3.41, with the latest volume below average and the shares down near their recent moving averages.
• Putnam Premier Income Trust also объявил a monthly dividend of $0.026 per share, payable on August 31, implying an annualized yield of about 9.1%.

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 15,689 shares, a decline of 53.9% from the June 15th total of 34,061 shares. Based on an average daily trading volume, of 94,069 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company's shares are sold short.

Institutional Trading of Putnam Premier Income Trust

A number of institutional investors and hedge funds have recently bought and sold shares of PPT. Integrated Wealth Concepts LLC lifted its position 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 worth $414,000 after purchasing an additional 2,833 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in shares of Putnam Premier Income Trust by 2.2% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 163,870 shares of the investment management company's stock valued at $598,000 after purchasing an additional 3,500 shares in the last quarter. Oder Investment Management LLC grew its holdings in shares of Putnam Premier Income Trust by 5.4% in the first quarter. Oder Investment Management LLC now owns 74,587 shares of the investment management company's stock valued at $265,000 after purchasing an additional 3,795 shares in the last quarter. Cetera Investment Advisers increased its stake in Putnam Premier Income Trust by 8.9% during the 4th quarter. Cetera Investment Advisers now owns 47,630 shares of the investment management company's stock worth $169,000 after buying an additional 3,897 shares during the period. Finally, Integrity Advisory Solutions LLC increased its stake in Putnam Premier Income Trust by 38.8% during the 4th quarter. Integrity Advisory Solutions LLC now owns 16,659 shares of the investment management company's stock worth $59,000 after buying an additional 4,656 shares during the period. 42.79% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Premier Income Trust Price Performance

Shares of PPT stock traded up $0.01 on Tuesday, hitting $3.44. The stock had a trading volume of 33,571 shares, compared to its average volume of 145,419. Putnam Premier Income Trust has a 1 year low of $3.41 and a 1 year high of $3.77. The company's 50 day moving average price is $3.46 and its 200-day moving average price is $3.53.

Putnam Premier Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.026 per share. This represents a c) dividend on an annualized basis and a yield of 9.1%. The ex-dividend date is Monday, August 24th.

Putnam Premier Income Trust Company Profile

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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