Putnam Premier Income Trust (NYSE:PPT) Reaches New 12-Month High at $5.50

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Putnam Premier Income Trust (NYSE:PPT) shares reached a new 52-week high on Wednesday . The company traded as high as $5.50 and last traded at $5.50, with a volume of 12462 shares changing hands. The stock had previously closed at $5.48.

The business’s fifty day simple moving average is $5.37 and its two-hundred day simple moving average is $5.26.

The company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 23rd will be paid a dividend of $0.035 per share. This represents a $0.42 annualized dividend and a dividend yield of 7.64%. The ex-dividend date of this dividend is Friday, December 20th.

In other Putnam Premier Income Trust news, insider Cooper Gregory purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was purchased at an average price of $35.45 per share, for a total transaction of $35,450.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arbor Wealth Management LLC purchased a new stake in shares of Putnam Premier Income Trust in the third quarter valued at approximately $5,935,000. Quad Cities Investment Group LLC grew its stake in Putnam Premier Income Trust by 8.4% in the 3rd quarter. Quad Cities Investment Group LLC now owns 479,844 shares of the investment management company’s stock valued at $2,526,000 after acquiring an additional 37,128 shares during the period. Janney Montgomery Scott LLC increased its holdings in Putnam Premier Income Trust by 3.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 253,834 shares of the investment management company’s stock worth $1,335,000 after acquiring an additional 8,711 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Putnam Premier Income Trust by 438.7% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 98,315 shares of the investment management company’s stock worth $504,000 after acquiring an additional 80,065 shares in the last quarter. Finally, Advisor Group Inc. raised its position in Putnam Premier Income Trust by 14.0% during the second quarter. Advisor Group Inc. now owns 87,098 shares of the investment management company’s stock worth $447,000 after acquiring an additional 10,678 shares during the period. 13.90% of the stock is owned by institutional investors.

About Putnam Premier Income Trust (NYSE:PPT)

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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