Putnam Premier Income Trust (NYSE:PPT) Short Interest Up 590.8% in January

Putnam Premier Income Trust (NYSE:PPT) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 288,187 shares, a growth of 590.8% from the January 15th total of 41,717 shares. Based on an average daily volume of 227,970 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily volume of 227,970 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Investors Weigh In On Putnam Premier Income Trust

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP acquired a new stake in shares of Putnam Premier Income Trust during the 2nd quarter worth $188,000. IFP Advisors Inc boosted its holdings in Putnam Premier Income Trust by 68.6% in the second quarter. IFP Advisors Inc now owns 19,980 shares of the investment management company’s stock valued at $73,000 after acquiring an additional 8,130 shares during the last quarter. International Assets Investment Management LLC grew its position in Putnam Premier Income Trust by 66.5% during the second quarter. International Assets Investment Management LLC now owns 53,079 shares of the investment management company’s stock valued at $195,000 after acquiring an additional 21,200 shares during the period. Riverbridge Partners LLC increased its stake in Putnam Premier Income Trust by 157.6% during the fourth quarter. Riverbridge Partners LLC now owns 609,426 shares of the investment management company’s stock worth $2,157,000 after acquiring an additional 372,890 shares during the last quarter. Finally, Intellus Advisors LLC raised its holdings in shares of Putnam Premier Income Trust by 24.3% in the 3rd quarter. Intellus Advisors LLC now owns 132,779 shares of the investment management company’s stock worth $490,000 after purchasing an additional 25,949 shares during the period. 42.79% of the stock is owned by institutional investors and hedge funds.

Putnam Premier Income Trust Stock Performance

Putnam Premier Income Trust stock traded up $0.01 during trading on Tuesday, hitting $3.65. The company’s stock had a trading volume of 180,205 shares, compared to its average volume of 209,064. The stock’s fifty day moving average is $3.58 and its 200 day moving average is $3.64. Putnam Premier Income Trust has a 1-year low of $3.40 and a 1-year high of $3.77.

Putnam Premier Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.026 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 8.6%.

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.