Short Interest in Putnam Premier Income Trust (NYSE:PPT) Rises By 101.5%

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 53,600 shares, an increase of 101.5% from the February 28th total of 26,600 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 175,100 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Putnam Premier Income Trust

A number of large investors have recently bought and sold shares of the company. Sit Investment Associates Inc. raised its holdings in shares of Putnam Premier Income Trust by 8.4% in the fourth quarter. Sit Investment Associates Inc. now owns 21,876,912 shares of the investment management company’s stock valued at $77,882,000 after purchasing an additional 1,689,141 shares during the last quarter. 1607 Capital Partners LLC grew its position in Putnam Premier Income Trust by 94.0% in the fourth quarter. 1607 Capital Partners LLC now owns 1,961,373 shares of the investment management company’s stock valued at $6,982,000 after purchasing an additional 950,379 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Putnam Premier Income Trust in the 4th quarter valued at $2,128,000. Essential Planning LLC. bought a new stake in Putnam Premier Income Trust during the 4th quarter worth about $817,000. Finally, Transform Wealth LLC acquired a new position in shares of Putnam Premier Income Trust during the 4th quarter worth about $560,000. Institutional investors and hedge funds own 42.79% of the company’s stock.

Putnam Premier Income Trust Stock Performance

Shares of PPT traded up $0.03 during midday trading on Friday, hitting $3.60. The stock had a trading volume of 125,767 shares, compared to its average volume of 159,703. The company has a 50 day simple moving average of $3.59 and a two-hundred day simple moving average of $3.61. Putnam Premier Income Trust has a twelve month low of $3.40 and a twelve month high of $3.74.

Putnam Premier Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.026 dividend. This represents a $0.31 annualized dividend and a yield of 8.68%. The ex-dividend date is Monday, March 17th.

About Putnam Premier Income Trust

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.