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

Putnam Master Intermediate Income Trust (NYSE:PIM) saw a significant drop in short interest in 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. Based on an average trading volume of 50,600 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.1% of the company’s stock are sold short.

Putnam Master Intermediate Income Trust Stock Up 0.4 %

NYSE:PIM traded up $0.01 during trading hours on Monday, hitting $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 1-year low of $3.04 and a 1-year high of $3.45. The business has a 50 day simple moving average of $3.30 and a two-hundred day simple moving average of $3.31.

Putnam Master Intermediate Income Trust Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC bought a new stake in Putnam Master Intermediate Income Trust during the 4th quarter valued at $33,000. Jane Street Group LLC acquired a new stake in shares of Putnam Master Intermediate Income Trust during the fourth quarter worth $35,000. Citadel Advisors LLC purchased a new position in shares of Putnam Master Intermediate Income Trust during the fourth quarter valued at $36,000. Northstar Financial Companies Inc. purchased a new position in shares of Putnam Master Intermediate Income Trust during the fourth quarter valued at $66,000. Finally, Stifel Financial Corp grew its holdings in shares of Putnam Master Intermediate Income Trust by 317.7% during the third quarter. Stifel Financial Corp now owns 43,122 shares of the company’s stock valued at $146,000 after buying an additional 32,798 shares in the last quarter. Institutional investors and hedge funds 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.