Putnam Premier Income Trust (NYSE:PPT) Stock Passes Above 200-Day Moving Average – What’s Next?

Putnam Premier Income Trust (NYSE:PPT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.65 and traded as high as $3.65. Putnam Premier Income Trust shares last traded at $3.61, with a volume of 223,265 shares traded.

Putnam Premier Income Trust Stock Performance

The business has a 50 day moving average of $3.69 and a two-hundred day moving average of $3.65.

Putnam Premier Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $0.026 dividend. The ex-dividend date is Friday, October 17th. This represents a c) dividend on an annualized basis and a yield of 8.6%.

Institutional Investors Weigh In On Putnam Premier Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPT. Sit Investment Associates Inc. raised its stake in Putnam Premier Income Trust by 5.0% in the first quarter. Sit Investment Associates Inc. now owns 22,981,484 shares of the investment management company’s stock valued at $82,963,000 after buying an additional 1,104,572 shares during the last quarter. 1607 Capital Partners LLC raised its stake in Putnam Premier Income Trust by 11.7% in the first quarter. 1607 Capital Partners LLC now owns 2,190,650 shares of the investment management company’s stock valued at $7,908,000 after buying an additional 229,277 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Putnam Premier Income Trust in the second quarter valued at about $465,000. Readystate Asset Management LP acquired a new position in shares of Putnam Premier Income Trust in the first quarter valued at about $316,000. Finally, Allworth Financial LP acquired a new position in shares of Putnam Premier Income Trust in the second quarter valued at about $188,000. 42.79% of the stock is currently owned by hedge funds and other institutional investors.

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.