Short Interest in Putnam Premier Income Trust (NYSE:PPT) Expands By 225.0%

Putnam Premier Income Trust (NYSE:PPT) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 29,900 shares, a growth of 225.0% from the September 30th total of 9,200 shares. Based on an average daily volume of 125,300 shares, the short-interest ratio is currently 0.2 days.

Putnam Premier Income Trust Stock Performance

Shares of Putnam Premier Income Trust stock traded up $0.01 during midday trading on Friday, hitting $3.62. The company’s stock had a trading volume of 91,010 shares, compared to its average volume of 145,022. Putnam Premier Income Trust has a 1-year low of $3.26 and a 1-year high of $3.74. The stock has a 50-day simple moving average of $3.69 and a 200-day simple moving average of $3.59.

Putnam Premier Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were paid a dividend of $0.026 per share. The ex-dividend date was Tuesday, September 24th. This represents a $0.31 annualized dividend and a yield of 8.62%.

Institutional Trading of Putnam Premier Income Trust

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in Putnam Premier Income Trust by 43.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,144,201 shares of the investment management company’s stock valued at $14,836,000 after purchasing an additional 1,261,737 shares in the last quarter. Raymond James & Associates increased its stake in shares of Putnam Premier Income Trust by 32.6% in the second quarter. Raymond James & Associates now owns 391,987 shares of the investment management company’s stock worth $1,403,000 after acquiring an additional 96,312 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Putnam Premier Income Trust by 273.0% in the third quarter. International Assets Investment Management LLC now owns 197,985 shares of the investment management company’s stock worth $738,000 after acquiring an additional 144,906 shares during the last quarter. Future Financial Wealth Managment LLC raised its holdings in shares of Putnam Premier Income Trust by 5.8% during the third quarter. Future Financial Wealth Managment LLC now owns 133,630 shares of the investment management company’s stock worth $498,000 after acquiring an additional 7,382 shares in the last quarter. Finally, Valley Brook Capital Group Inc. boosted its position in Putnam Premier Income Trust by 32.0% during the second quarter. Valley Brook Capital Group Inc. now owns 87,875 shares of the investment management company’s stock valued at $315,000 after purchasing an additional 21,325 shares during the last quarter. 42.79% of the stock is owned by hedge funds and other institutional investors.

About Putnam Premier Income Trust

Putnam Premier 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 public fixed income markets across the globe. The fund primarily invests in U.S. high-grade and high-yield bonds with an average credit quality of BBB by S&P Corporation.