Putnam Premier Income Trust (NYSE:PPT) Sees Large Increase in Short Interest

Putnam Premier Income Trust (NYSE:PPT) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 133,700 shares, an increase of 282.0% from the March 31st total of 35,000 shares. Based on an average trading volume of 200,500 shares, the short-interest ratio is presently 0.7 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Putnam Premier Income Trust

Large investors have recently modified their holdings of the stock. Sit Investment Associates Inc. raised its holdings in Putnam Premier Income Trust by 8.4% during the 4th quarter. Sit Investment Associates Inc. now owns 21,876,912 shares of the investment management company’s stock worth $77,882,000 after buying an additional 1,689,141 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Putnam Premier Income Trust by 0.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,779,876 shares of the investment management company’s stock worth $13,456,000 after acquiring an additional 18,675 shares in the last quarter. 1607 Capital Partners LLC grew its stake in Putnam Premier Income Trust by 94.0% during the 4th quarter. 1607 Capital Partners LLC now owns 1,961,373 shares of the investment management company’s stock valued at $6,982,000 after acquiring an additional 950,379 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Putnam Premier Income Trust by 2.0% during the fourth quarter. Invesco Ltd. now owns 1,154,335 shares of the investment management company’s stock worth $4,109,000 after purchasing an additional 23,113 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Putnam Premier Income Trust by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 658,186 shares of the investment management company’s stock valued at $2,376,000 after purchasing an additional 3,108 shares in the last quarter. 42.79% of the stock is owned by institutional investors.

Putnam Premier Income Trust Price Performance

Shares of NYSE PPT traded down $0.01 during mid-day trading on Tuesday, reaching $3.59. 20,859 shares of the company traded hands, compared to its average volume of 186,753. The stock has a fifty day simple moving average of $3.57 and a 200-day simple moving average of $3.58. Putnam Premier Income Trust has a fifty-two week low of $3.40 and a fifty-two week high of $3.74.

Putnam Premier Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be paid a dividend of $0.026 per share. This represents a $0.31 annualized dividend and a yield of 8.70%. The ex-dividend date of this dividend is Thursday, April 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.