Putnam Premier Income Trust (NYSE:PPT) Shares Cross Above 200-Day Moving Average – Here’s Why

Putnam Premier Income Trust (NYSE:PPT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.63 and traded as high as $3.63. Putnam Premier Income Trust shares last traded at $3.63, with a volume of 272,221 shares.

Putnam Premier Income Trust Trading Up 0.8%

The stock’s fifty day moving average price is $3.58 and its 200 day moving average price is $3.63.

Putnam Premier Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be paid a dividend of $0.026 per share. This represents a c) annualized dividend and a yield of 8.6%. The ex-dividend date is Friday, February 20th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. bought a new position in shares of Putnam Premier Income Trust during the first quarter valued at $80,000. Royal Bank of Canada increased its holdings in Putnam Premier Income Trust by 9.0% in the 1st quarter. Royal Bank of Canada now owns 190,812 shares of the investment management company’s stock worth $689,000 after buying an additional 15,743 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Putnam Premier Income Trust by 2.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 114,650 shares of the investment management company’s stock worth $414,000 after buying an additional 2,833 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Putnam Premier Income Trust by 2.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 677,347 shares of the investment management company’s stock worth $2,486,000 after buying an additional 19,161 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Putnam Premier Income Trust by 68.6% during the 2nd quarter. IFP Advisors Inc now owns 19,980 shares of the investment management company’s stock valued at $73,000 after acquiring an additional 8,130 shares during the period. Hedge funds and other institutional investors own 42.79% of the company’s stock.

About Putnam Premier Income Trust

Putnam Premier Income Trust (NYSE:PPT) is a diversified closed-end management investment company that seeks to provide current income with a secondary objective of capital appreciation. The trust pursues income through a portfolio of domestic and international fixed-income and equity securities, including high-yield corporate bonds, investment-grade debt, preferred securities and dividend-paying stocks. Its investment strategy emphasizes diversification across credit quality, sector and geography to balance income generation with risk management.

The fund employs leverage, including borrowing and preferred shares, to enhance its income potential within regulatory limits.