Pin Oak Investment Advisors Inc. Invests $567,000 in Putnam Premier Income Trust $PPT

Pin Oak Investment Advisors Inc. acquired a new stake in Putnam Premier Income Trust (NYSE:PPT) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 162,520 shares of the investment management company’s stock, valued at approximately $567,000.

Other hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. acquired a new position in shares of Putnam Premier Income Trust in the first quarter valued at approximately $80,000. Royal Bank of Canada lifted its holdings in Putnam Premier Income Trust by 9.0% during the 1st quarter. Royal Bank of Canada now owns 190,812 shares of the investment management company’s stock worth $689,000 after buying an additional 15,743 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in Putnam Premier Income Trust by 2.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 114,650 shares of the investment management company’s stock valued at $414,000 after buying an additional 2,833 shares during the period. Jane Street Group LLC acquired a new position in shares of Putnam Premier Income Trust in the second quarter worth $169,000. Finally, Bank of America Corp DE grew its stake in shares of Putnam Premier Income Trust by 3.0% in the second quarter. Bank of America Corp DE now owns 194,999 shares of the investment management company’s stock worth $716,000 after acquiring an additional 5,756 shares in the last quarter. Institutional investors and hedge funds own 42.79% of the company’s stock.

Putnam Premier Income Trust Trading Up 0.3%

Shares of NYSE PPT opened at $3.46 on Friday. Putnam Premier Income Trust has a 12-month low of $3.37 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 $3.49.

Putnam Premier Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.026 per share. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a yield of 9.0%.

Putnam Premier Income Trust 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.