Putnam Premier Income Trust (NYSE:PPT) Stock Crosses Above Two Hundred Day Moving Average of $3.55

Putnam Premier Income Trust (NYSE:PPT)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.55 and traded as high as $3.72. Putnam Premier Income Trust shares last traded at $3.71, with a volume of 205,467 shares trading hands.

Putnam Premier Income Trust Price Performance

The company’s 50-day moving average is $3.64 and its 200 day moving average is $3.55.

Putnam Premier Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th will be given a $0.026 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $0.31 dividend on an annualized basis and a yield of 8.42%.

Institutional Investors Weigh In On Putnam Premier Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Putnam Premier Income Trust by 43.8% during the 2nd 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 raised its holdings in shares of Putnam Premier Income Trust by 32.6% during the 2nd quarter. Raymond James & Associates now owns 391,987 shares of the investment management company’s stock valued at $1,403,000 after purchasing an additional 96,312 shares in the last quarter. Catalina Capital Group LLC bought a new position in shares of Putnam Premier Income Trust during the 2nd quarter valued at $197,000. Sanders Morris Harris LLC bought a new position in shares of Putnam Premier Income Trust during the 1st quarter valued at $118,000. Finally, Gridiron Partners LLC bought a new position in shares of Putnam Premier Income Trust during the 4th quarter valued at $103,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.

Putnam Premier Income Trust Company Profile

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.