Putnam Premier Income Trust (NYSE:PPT) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Putnam Premier Income Trust (NYSE:PPT)’s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $3.44 and traded as low as $3.26. Putnam Premier Income Trust shares last traded at $3.2650, with a volume of 180,002 shares.

Putnam Premier Income Trust Trading Down 0.6%

The firm’s fifty day simple moving average is $3.38 and its 200 day simple moving average is $3.44.

Putnam Premier Income Trust Announces Dividend

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

Institutional Trading of Putnam Premier Income Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc raised its holdings in Putnam Premier Income Trust by 17.6% during the second quarter. IFP Advisors Inc now owns 23,506 shares of the investment management company’s stock worth $82,000 after purchasing an additional 3,526 shares in the last quarter. Baird Financial Group Inc. boosted its stake 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 valued at $691,000 after acquiring an additional 4,650 shares in the last quarter. Readystate Asset Management LP purchased a new position in shares of Putnam Premier Income Trust during the second quarter worth about $93,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Putnam Premier Income Trust during the second quarter worth about $567,000. Finally, Mirador Capital Partners LP lifted its holdings in shares of Putnam Premier Income Trust by 33.4% in the 2nd quarter. Mirador Capital Partners LP now owns 123,623 shares of the investment management company’s stock valued at $431,000 after purchasing an additional 30,983 shares during the last quarter. 42.79% of the stock is currently owned by institutional investors and hedge funds.

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.