Short Interest in Putnam Premier Income Trust (NYSE:PPT) Rises By 40.0%

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 115,100 shares, a growth of 40.0% from the September 30th total of 82,200 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 200,900 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 200,900 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the shares of the stock are short sold.

Putnam Premier Income Trust Price Performance

PPT stock opened at $3.61 on Wednesday. Putnam Premier Income Trust has a one year low of $3.40 and a one year high of $3.77. The company’s 50 day moving average price is $3.68 and its two-hundred day moving average price is $3.66.

Putnam Premier Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 17th were issued a $0.026 dividend. The ex-dividend date was Friday, October 17th. This represents a c) annualized dividend and a dividend yield of 8.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PPT. IFP Advisors Inc grew its holdings in shares of Putnam Premier Income Trust by 138.0% in the first quarter. IFP Advisors Inc now owns 11,850 shares of the investment management company’s stock worth $43,000 after purchasing an additional 6,871 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Putnam Premier Income Trust in the third quarter worth approximately $57,000. Baird Financial Group Inc. bought a new position in shares of Putnam Premier Income Trust in the first quarter worth approximately $80,000. Ethos Financial Group LLC bought a new position in shares of Putnam Premier Income Trust in the first quarter worth approximately $96,000. Finally, Shaker Financial Services LLC bought a new position in shares of Putnam Premier Income Trust in the third quarter worth approximately $127,000. Institutional investors own 42.79% of the company’s stock.

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.