Surge in Short Interest for Putnam Premier Income Trust (NYSE:PPT)

Putnam Premier Income Trust (NYSE:PPT - Get Free Report) experienced a notable rise in short interest during October. By October 15th, the short interest reached a total of 29,900 shares, reflecting an impressive increase of 225.0% compared to the 9,200 shares reported on September 30th. Based on the average daily trading volume of 125,300 shares, the current short-interest ratio stands at just 0.2 days.

Putnam Premier Income Trust Price Performance

On Friday, shares of PPT increased by $0.01 during trading, reaching a price of $3.62. A total of 91,010 shares changed hands, which is below its average volume of 145,022. The current 50-day moving average for the stock is $3.69, while the 200-day moving average is recorded at $3.59. The stock has a 52-week low of $3.26 and a 52-week high of $3.74.

Recent Dividend Announcement from Putnam Premier Income Trust

The company recently announced a monthly dividend that was paid on October 1st. Investors who held shares as of September 24th received a dividend of $0.026. This results in an annualized dividend of $0.31, yielding 8.62%. The ex-dividend date for this distribution was also set for September 24th.

Hedge Fund Activity in Putnam Premier Income Trust

Recently, various hedge funds have adjusted their positions in the company. Creative Planning increased its stake in Putnam Premier Income Trust by 8.3% during the second quarter, bringing its total holdings to 83,867 shares valued at $300,000 after acquiring an additional 6,400 shares. Future Financial Wealth Management LLC raised its investment in the third quarter by 5.8%, now owning 133,630 shares valued at $498,000 after purchasing another 7,382 shares. Additionally, Luken Investment Analytics LLC established a new position in the company valued at approximately $29,000 during the second quarter. Furthermore, Gilman Hill Asset Management LLC boosted its stake by 73.3% in the third quarter, now holding 26,000 shares valued at $97,000 following an additional purchase of 11,000 shares. Valley Brook Capital Group Inc. also increased its position by 32.0% in the second quarter, holding 87,875 shares valued at $315,000 after a purchase of 21,325 shares. Notably, institutional investors currently own 42.79% of the company's stock.

About Putnam Premier Income Trust

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

investment, stocks, dividend