Short Interest in Putnam Premier Income Trust (NYSE:PPT) Increases By 590.8%

Putnam Premier Income Trust (NYSE:PPT) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 288,187 shares, a growth of 590.8% from the January 15th total of 41,717 shares. Based on an average daily volume of 227,970 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily volume of 227,970 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Investors Weigh In On Putnam Premier Income Trust

A number of institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its position in shares of Putnam Premier Income Trust by 104.1% during the 4th quarter. Global Retirement Partners LLC now owns 10,354 shares of the investment management company’s stock worth $37,000 after purchasing an additional 5,282 shares during the last quarter. Integrity Advisory Solutions LLC purchased a new position in Putnam Premier Income Trust during the third quarter worth $44,000. First National Trust Co acquired a new position in shares of Putnam Premier Income Trust in the third quarter worth $48,000. Thrivent Financial for Lutherans purchased a new stake in shares of Putnam Premier Income Trust in the third quarter valued at $57,000. Finally, IFP Advisors Inc boosted its stake in shares of Putnam Premier Income Trust by 68.6% during the second quarter. IFP Advisors Inc now owns 19,980 shares of the investment management company’s stock valued at $73,000 after acquiring an additional 8,130 shares during the last quarter. Hedge funds and other institutional investors own 42.79% of the company’s stock.

Putnam Premier Income Trust Stock Performance

PPT traded up $0.01 during trading on Tuesday, hitting $3.65. The stock had a trading volume of 180,205 shares, compared to its average volume of 209,064. Putnam Premier Income Trust has a twelve month low of $3.40 and a twelve month high of $3.77. The company’s 50-day moving average price is $3.58 and its 200 day moving average price is $3.64.

Putnam Premier Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a dividend of $0.026 per share. This represents a c) annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend is Friday, February 20th.

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.