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

Putnam Premier Income Trust (NYSE:PPT)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.63 and traded as high as $3.63. Putnam Premier Income Trust shares last traded at $3.6250, with a volume of 100,982 shares.

Putnam Premier Income Trust Stock Up 0.1%

The company has a fifty day simple moving average of $3.59 and a two-hundred day simple moving average of $3.63.

Putnam Premier Income Trust Announces Dividend

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

Hedge Funds Weigh In On Putnam Premier Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in shares of Putnam Premier Income Trust during the 4th quarter worth approximately $32,000. Global Retirement Partners LLC raised its position in Putnam Premier Income Trust by 104.1% during the fourth quarter. Global Retirement Partners LLC now owns 10,354 shares of the investment management company’s stock valued at $37,000 after purchasing an additional 5,282 shares in the last quarter. UMB Bank n.a. bought a new stake in Putnam Premier Income Trust during the fourth quarter worth $43,000. Integrity Advisory Solutions LLC bought a new stake in Putnam Premier Income Trust during the third quarter worth $44,000. Finally, First National Trust Co acquired a new stake in shares of Putnam Premier Income Trust in the 3rd quarter valued at $48,000. 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 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.