Short Interest in Putnam Premier Income Trust (NYSE:PPT) Expands By 232.3%

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 52,128 shares, an increase of 232.3% from the June 30th total of 15,689 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 82,230 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Trading of Putnam Premier Income Trust

Large investors have recently bought and sold shares of the business. Riverbridge Partners LLC boosted its holdings in shares of Putnam Premier Income Trust by 157.6% in the fourth quarter. Riverbridge Partners LLC now owns 609,426 shares of the investment management company’s stock valued at $2,157,000 after buying an additional 372,890 shares during the period. Sit Investment Associates Inc. raised its holdings in shares of Putnam Premier Income Trust by 3.6% during the fourth quarter. Sit Investment Associates Inc. now owns 28,292,873 shares of the investment management company’s stock worth $100,157,000 after acquiring an additional 992,088 shares during the period. Cetera Investment Advisers raised its holdings in shares of Putnam Premier Income Trust by 8.9% during the fourth quarter. Cetera Investment Advisers now owns 47,630 shares of the investment management company’s stock worth $169,000 after acquiring an additional 3,897 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Putnam Premier Income Trust in the 4th quarter valued at $134,000. Finally, Gilpin Wealth Management LLC bought a new stake in Putnam Premier Income Trust in the 4th quarter valued at $105,000. 42.79% of the stock is owned by institutional investors.

Putnam Premier Income Trust Stock Performance

PPT stock traded up $0.01 during midday trading on Monday, hitting $3.38. 135,518 shares of the company’s stock were exchanged, compared to its average volume of 87,251. The stock’s fifty day moving average price is $3.44 and its 200-day moving average price is $3.52. Putnam Premier Income Trust has a one year low of $3.37 and a one year high of $3.77.

Putnam Premier Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a $0.026 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 9.2%.

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.