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

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

Putnam Premier Income Trust Trading Down 0.7%

PPT traded down $0.03 on Friday, hitting $3.38. The company had a trading volume of 250,963 shares, compared to its average volume of 87,251. Putnam Premier Income Trust has a 12-month low of $3.38 and a 12-month high of $3.77. The business’s fifty day simple moving average is $3.44 and its 200 day simple moving average is $3.52.

Putnam Premier Income Trust Announces Dividend

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

Hedge Funds Weigh In On Putnam Premier Income Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in shares of Putnam Premier Income Trust during the 1st quarter valued at approximately $29,000. Kestra Advisory Services LLC bought a new stake in Putnam Premier Income Trust in the fourth quarter worth $32,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Putnam Premier Income Trust during the fourth quarter worth $33,000. Global Retirement Partners LLC boosted its stake 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 worth $37,000 after buying an additional 5,282 shares during the period. Finally, UMB Bank n.a. purchased a new position in Putnam Premier Income Trust during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.

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.