Significant Rise in Short Interest for Putnam Premier Income Trust

Putnam Premier Income Trust (NYSE:PPT) experienced a notable increase in short interest for October. As of October 15th, the short interest reached a total of 29,900 shares, marking a staggering 225.0% increase from the 9,200 shares reported on September 30th. With an average daily trading volume of 125,300 shares, the current days-to-cover ratio is 0.2 days.

Putnam Premier Income Trust Price Trends

On Friday, PPT stock saw a slight uptick of $0.01, bringing its price to $3.62. The volume of shares traded was 91,010, which is slightly lower than its average volume of 145,022. Over the past few months, the stock has maintained a 50-day moving average of $3.69 and a 200-day moving average of $3.59. The trust has recorded a 52-week low of $3.26 and a high of $3.74.

Recent Dividend Announcement

Recently, Putnam Premier Income Trust announced its monthly dividend. This was paid out on October 1st, with the record date set for September 24th. Shareholders received a dividend of $0.026 per share, leading to an annualized dividend of $0.31, which translates to a yield of 8.62%. The trust's ex-dividend date was also on September 24th.

Institutional Investors' Activity

There have been several changes among institutional investors regarding their positions in Putnam Premier Income Trust. Creative Planning increased its stake by 8.3% during the second quarter, acquiring an additional 6,400 shares to total 83,867 shares valued at approximately $300,000. Future Financial Wealth Management LLC also raised its holdings by 5.8% in the third quarter, purchasing an additional 7,382 shares for a total holding of 133,630 shares worth about $498,000. Additionally, Luken Investment Analytics LLC entered a new position in the second quarter valued at approximately $29,000. Likewise, Gilman Hill Asset Management LLC boosted its stake by 73.3% in the third quarter, increasing their holdings to 26,000 shares valued at $97,000 after acquiring an extra 11,000 shares. Lastly, Valley Brook Capital Group Inc. increased its stake by 32.0% in the second quarter, totaling 87,875 shares valued at around $315,000. Overall, institutional investors hold 42.79% of the company's stock.

Overview of Putnam Premier Income Trust

Putnam Premier Income Trust is a closed-end fixed income mutual fund managed by Putnam Investment Management, LLC. The fund primarily invests in public fixed income markets globally, focusing on U.S. high-grade and high-yield bonds, maintaining an average credit quality of BBB as rated by S&P Corporation.

Conclusion

The significant increase in short interest for Putnam Premier Income Trust raises interest among market watchers, presenting potential investment opportunities. Investors should stay informed about market trends and institutional activities regarding such assets.

Putnam, Stock, Dividend