Putnam Premier Income Trust Announces Monthly Dividend of $0.03 (NYSE:PPT)

Putnam Premier Income Trust (NYSE:PPT) declared a monthly dividend on Wednesday, August 5th. Stockholders of record on Friday, November 20th will be paid a dividend of 0.026 per share by the investment management company on Monday, November 30th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date is Friday, November 20th.

Putnam Premier Income Trust Price Performance

Shares of Putnam Premier Income Trust stock opened at $3.42 on Thursday. The firm has a fifty day moving average price of $3.44 and a 200 day moving average price of $3.51. Putnam Premier Income Trust has a 1 year low of $3.37 and a 1 year high of $3.77.

Institutional Investors Weigh In On Putnam Premier Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirador Capital Partners LP boosted its stake in shares of Putnam Premier Income Trust by 33.4% in the second quarter. Mirador Capital Partners LP now owns 123,623 shares of the investment management company’s stock worth $431,000 after acquiring an additional 30,983 shares during the last quarter. Quad Cities Investment Group LLC grew its position in Putnam Premier Income Trust by 10.7% in the 2nd quarter. Quad Cities Investment Group LLC now owns 273,312 shares of the investment management company’s stock valued at $954,000 after acquiring an additional 26,347 shares in the last quarter. Oder Investment Management LLC increased its position in shares of Putnam Premier Income Trust by 5.4% during the first quarter. Oder Investment Management LLC now owns 74,587 shares of the investment management company’s stock worth $265,000 after acquiring an additional 3,795 shares during the period. Summit Securities Group LLC acquired a new stake in Putnam Premier Income Trust in the first quarter valued at approximately $29,000. Finally, Janney Montgomery Scott LLC raised its stake in Putnam Premier Income Trust by 9.6% in the first quarter. Janney Montgomery Scott LLC now owns 774,899 shares of the investment management company’s stock valued at $2,751,000 after buying an additional 67,945 shares in the last quarter. Hedge funds and other institutional investors own 42.79% of the company’s stock.

Putnam Premier Income Trust Company Profile

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.