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

Putnam Premier Income Trust (NYSE:PPT) experienced a dramatic rise in short interest throughout October. By October 15th, the total short interest reached 29,900 shares, marking an impressive increase of 225.0% from the September 30th figure of 9,200 shares. Given the average daily trading volume of 125,300 shares, the current days-to-cover ratio is at a notably low level of 0.2 days.

Recent Price Movement of Putnam Premier Income Trust

During the trading session on Friday, shares of PPT saw a modest increase of $0.01, bringing the price to $3.62. The volume of shares traded was 91,010, which is below the average volume of 145,022 shares. The stock's 50-day moving average stands at $3.69, while the 200-day moving average is slightly lower at $3.59. Over the past year, Putnam Premier Income Trust has hit a 52-week low of $3.26 and a high of $3.74.

Dividend Declarations from Putnam Premier Income Trust

Recently, the company announced a monthly dividend which was disbursed on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th, received a dividend of $0.026. This payout translates to an annual dividend of $0.31 and corresponds to a yield of 8.62%. The ex-dividend date was also set for September 24th.

Hedge Fund Activity Regarding Putnam Premier Income Trust

Multiple hedge funds have either increased or decreased their stakes in Putnam Premier Income Trust. For instance, Creative Planning raised its holdings by 8.3% during the second quarter and now owns 83,867 shares valued at approximately $300,000, after adding 6,400 shares. Additionally, Future Financial Wealth Management LLC augmented its position by 5.8% in the third quarter, bringing its total to 133,630 shares worth $498,000 after acquiring 7,382 shares. Luken Investment Analytics LLC entered a new position valued at around $29,000 during the second quarter, while Gilman Hill Asset Management LLC boosted its stake by 73.3% in the third quarter, resulting in ownership of 26,000 shares valued at about $97,000. Lastly, Valley Brook Capital Group Inc. increased its stake by 32.0% in the second quarter, now holding 87,875 shares worth $315,000. A total of 42.79% of the company's shares are held by institutional investors.

Overview of Putnam Premier Income Trust

Putnam Premier Income Trust is a closed-end fixed income mutual fund, initiated and managed by Putnam Investment Management, LLC, with co-management by Putnam Investments Limited. The fund primarily invests in global fixed income markets, focusing on U.S. high-grade and high-yield bonds that generally maintain an average credit quality rated as BBB by S&P Corporation.

Putnam, Income, Trust