Putnam Premier Income Trust (NYSE:PPT) Stock Short Interest Climbs 68.8%

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 90,346 shares, a growth of 68.8% from the September 15th total of 53,531 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 144,326 shares, the days-to-cover ratio is presently 0.6 days.

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 the stock. Janney Montgomery Scott LLC increased its position in shares of Putnam Premier Income Trust by 9.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 774,899 shares of the investment management company’s stock valued at $2,751,000 after purchasing an additional 67,945 shares during the last quarter. Riverbridge Partners LLC raised its holdings in Putnam Premier Income Trust by 3.9% during the 1st quarter. Riverbridge Partners LLC now owns 633,159 shares of the investment management company’s stock valued at $2,248,000 after buying an additional 23,733 shares during the period. Quad Cities Investment Group LLC lifted its position in Putnam Premier Income Trust by 10.7% in the second quarter. Quad Cities Investment Group LLC now owns 273,312 shares of the investment management company’s stock worth $954,000 after buying an additional 26,347 shares during the last quarter. Baird Financial Group Inc. lifted its position in Putnam Premier Income Trust by 2.4% in the second quarter. Baird Financial Group Inc. now owns 197,900 shares of the investment management company’s stock worth $691,000 after buying an additional 4,650 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. bought a new stake in Putnam Premier Income Trust in the second quarter worth $567,000. 42.79% of the stock is currently owned by hedge funds and other institutional investors.

Putnam Premier Income Trust Stock Up 1.1%

Shares of NYSE:PPT opened at $3.25 on Friday. Putnam Premier Income Trust has a 12 month low of $3.21 and a 12 month high of $3.69. The company has a 50-day moving average price of $3.36 and a 200 day moving average price of $3.43.

Putnam Premier Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.0260 per share. This represents a $0.31 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend is Friday, November 20th.

About Putnam Premier Income Trust

Putnam Premier Income Trust (NYSE:PPT) is a closed-end management investment company that seeks to provide investors with a high level of current income. The trust pursues its objective primarily by investing in a diversified portfolio of fixed-income securities.

Its portfolio may include corporate bonds, government and agency securities, mortgage- and asset-backed securities, and other debt instruments. The trust may invest in both investment-grade and below-investment-grade securities, including obligations issued by companies and governments outside the United States, giving it exposure to a range of domestic and international fixed-income markets.

Putnam Premier Income Trust is advised by Putnam Investment Management, a global asset-management firm and part of Franklin Resources.