Putnam Master Intermediate Income Trust (NYSE:PIM) Sees Large Drop in Short Interest

Putnam Master Intermediate Income Trust (NYSE:PIM) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 64,600 shares, a drop of 22.2% from the February 13th total of 83,000 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 50,600 shares, the days-to-cover ratio is presently 1.3 days.

Putnam Master Intermediate Income Trust Stock Up 0.4 %

Putnam Master Intermediate Income Trust stock traded up $0.01 during trading on Monday, reaching $3.30. The stock had a trading volume of 8,555 shares, compared to its average volume of 60,249. Putnam Master Intermediate Income Trust has a 52-week low of $3.04 and a 52-week high of $3.45. The business has a 50 day moving average price of $3.30 and a 200 day moving average price of $3.31.

Putnam Master Intermediate Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.022 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.26 dividend on an annualized basis and a yield of 7.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. lifted its stake in Putnam Master Intermediate Income Trust by 1.0% in the fourth quarter. Sit Investment Associates Inc. now owns 22,984,308 shares of the company’s stock worth $74,929,000 after acquiring an additional 223,036 shares during the last quarter. 1607 Capital Partners LLC increased its stake in Putnam Master Intermediate Income Trust by 83.9% in the 4th quarter. 1607 Capital Partners LLC now owns 1,065,778 shares of the company’s stock valued at $3,474,000 after buying an additional 486,262 shares during the period. Consolidated Portfolio Review Corp grew its stake in shares of Putnam Master Intermediate Income Trust by 9.8% during the 4th quarter. Consolidated Portfolio Review Corp now owns 292,786 shares of the company’s stock worth $954,000 after purchasing an additional 26,024 shares during the period. Essential Planning LLC. acquired a new position in shares of Putnam Master Intermediate Income Trust during the 4th quarter worth $676,000. Finally, Transform Wealth LLC purchased a new stake in shares of Putnam Master Intermediate Income Trust in the 4th quarter worth about $555,000. Hedge funds and other institutional investors own 55.06% of the company’s stock.

About Putnam Master Intermediate Income Trust

Putnam Master Intermediate Income Trust is a closed ended fixed income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.