Putnam Premier Income Trust (NYSE:PPT) Short Interest Down 44.8% in May

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 70,877 shares, a decline of 44.8% from the April 30th total of 128,512 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 132,735 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of Putnam Premier Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Oder Investment Management LLC raised its holdings in shares of Putnam Premier Income Trust by 5.4% in the first quarter. Oder Investment Management LLC now owns 74,587 shares of the investment management company’s stock valued at $265,000 after acquiring an additional 3,795 shares in the last quarter. Summit Securities Group LLC bought a new position in Putnam Premier Income Trust in the first quarter worth about $29,000. Janney Montgomery Scott LLC raised its holdings in Putnam Premier Income Trust by 9.6% in the first quarter. Janney Montgomery Scott LLC now owns 774,899 shares of the investment management company’s stock worth $2,751,000 after purchasing an additional 67,945 shares in the last quarter. Riverbridge Partners LLC raised its holdings in Putnam Premier Income Trust by 3.9% in the first quarter. Riverbridge Partners LLC now owns 633,159 shares of the investment management company’s stock worth $2,248,000 after purchasing an additional 23,733 shares in the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Putnam Premier Income Trust in the fourth quarter worth about $33,000. 42.79% of the stock is currently owned by institutional investors.

Putnam Premier Income Trust Stock Performance

Shares of PPT stock traded down $0.01 on Tuesday, hitting $3.48. The stock had a trading volume of 106,230 shares, compared to its average volume of 104,138. The business has a 50 day moving average price of $3.50 and a 200 day moving average price of $3.56. Putnam Premier Income Trust has a one year low of $3.41 and a one year high of $3.77.

Putnam Premier Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a $0.026 dividend. This represents a c) annualized dividend and a dividend yield of 9.0%. The ex-dividend date is Monday, August 24th.

About Putnam Premier Income Trust

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.