Putnam Premier Income Trust (NYSE:PPT) Short Interest Down 27.8% in July

Key Points

• Short interest in Putnam Premier Income Trust decreased by 27.8% from July 15th to July 31st, lowering to 122,300 shares.
• Hedge funds have recently shown increased interest, with notable purchases from Sit Investment Associates Inc. and others, bringing institutional ownership to 42.79%.
• The trust has announced a dividend of $0.026 per share, which will be paid on August 29th, representing a remarkable yield of 846.0%.

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 122,300 shares, adeclineof27.8% from the July 15th total of 169,500 shares. Based on an average trading volume of 197,800 shares, the days-to-cover ratio is presently 0.6 days. Approximately0.1% of the shares of the company are short sold. Approximately0.1% of the shares of the company are short sold. Based on an average trading volume of 197,800 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On Putnam Premier Income Trust

Large investors have recently bought and sold shares of the company. South Plains Financial Inc. purchased a new stake in Putnam Premier Income Trust in the fourth quarter valued at approximately $31,000. IFP Advisors Inc lifted its position in shares of Putnam Premier Income Trust by 138.0% during the 1st quarter. IFP Advisors Inc now owns 11,850 shares of the investment management company's stock valued at $43,000 after buying an additional 6,871 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Putnam Premier Income Trust during the 4th quarter valued at approximately $47,000. Baird Financial Group Inc. acquired a new position in Putnam Premier Income Trust in the 1st quarter valued at $80,000. Finally, Ethos Financial Group LLC acquired a new stake in shares of Putnam Premier Income Trust in the 1st quarter worth $96,000. Hedge funds and other institutional investors own 42.79% of the company's stock.

Putnam Premier Income Trust Stock Up 0.4%

Shares of PPT stock traded up $0.0150 during mid-day trading on Monday, reaching $3.6750. The stock had a trading volume of 140,026 shares, compared to its average volume of 190,092. The business's fifty day moving average is $3.66 and its 200-day moving average is $3.62. Putnam Premier Income Trust has a 1-year low of $3.40 and a 1-year high of $3.74.

Putnam Premier Income Trust Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be given a $0.026 dividend. The ex-dividend date is Monday, August 18th. This represents a yield of 846.0%.

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.