Putnam Master Intermediate Income Trust (NYSE:PIM) Sees Large Increase in Short Interest

Putnam Master Intermediate Income Trust (NYSE:PIM) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 68,800 shares, an increase of 581.2% from the September 15th total of 10,100 shares. Based on an average daily trading volume, of 103,200 shares, the short-interest ratio is presently 0.7 days.

Shares of Putnam Master Intermediate Income Trust stock remained flat at $$4.08 during midday trading on Thursday. The stock had a trading volume of 46,215 shares, compared to its average volume of 121,968. The company’s fifty day simple moving average is $4.08 and its 200-day simple moving average is $4.17. Putnam Master Intermediate Income Trust has a 1-year low of $3.99 and a 1-year high of $4.47.

The firm also recently announced a monthly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 22nd will be given a $0.022 dividend. The ex-dividend date of this dividend is Thursday, October 21st. This represents a $0.26 annualized dividend and a dividend yield of 6.47%.

Several institutional investors have recently modified their holdings of the company. The PNC Financial Services Group Inc. raised its holdings in shares of Putnam Master Intermediate Income Trust by 59.7% during the first quarter. The PNC Financial Services Group Inc. now owns 7,984 shares of the company’s stock worth $35,000 after acquiring an additional 2,984 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Putnam Master Intermediate Income Trust by 11.8% during the second quarter. LPL Financial LLC now owns 41,646 shares of the company’s stock worth $174,000 after acquiring an additional 4,408 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Putnam Master Intermediate Income Trust by 52.1% during the first quarter. Royal Bank of Canada now owns 13,029 shares of the company’s stock worth $56,000 after acquiring an additional 4,461 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Putnam Master Intermediate Income Trust by 20.1% during the first quarter. Commonwealth Equity Services LLC now owns 46,324 shares of the company’s stock worth $200,000 after acquiring an additional 7,738 shares in the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV raised its holdings in shares of Putnam Master Intermediate Income Trust by 8.7% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 120,804 shares of the company’s stock worth $506,000 after acquiring an additional 9,700 shares in the last quarter. 32.14% of the stock is owned by institutional investors and hedge funds.

About Putnam Master Intermediate Income Trust

Putnam Master Intermediate 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 fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.

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