Putnam Premier Income Trust (NYSE:PPT) Trading 5.1% Higher Following Dividend Announcement

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Putnam Premier Income Trust (NYSE:PPT) traded up 5.1% on Wednesday after the company announced a dividend. The stock traded as high as $4.34 and last traded at $4.11, 481,570 shares were traded during mid-day trading. An increase of 2% from the average session volume of 473,549 shares. The stock had previously closed at $3.91.

The newly announced dividend which will be paid on Friday, May 1st. Investors of record on Friday, April 24th will be given a $0.035 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $0.42 dividend on an annualized basis and a dividend yield of 10.22%.

The stock has a 50-day moving average of $5.04 and a two-hundred day moving average of $5.30.

Institutional investors have recently made changes to their positions in the stock. Arbor Wealth Management LLC lifted its stake in Putnam Premier Income Trust by 0.8% in the 4th quarter. Arbor Wealth Management LLC now owns 1,137,785 shares of the investment management company’s stock worth $6,178,000 after acquiring an additional 9,449 shares in the last quarter. Avestar Capital LLC purchased a new stake in Putnam Premier Income Trust in the 3rd quarter worth about $53,000. Boenning & Scattergood Inc. purchased a new stake in Putnam Premier Income Trust in the 4th quarter worth about $187,000. Ascension Capital Advisors Inc. purchased a new stake in Putnam Premier Income Trust in the 4th quarter worth about $424,000. Finally, Clear Creek Financial Management LLC lifted its stake in Putnam Premier Income Trust by 11.5% in the 3rd quarter. Clear Creek Financial Management LLC now owns 18,419 shares of the investment management company’s stock worth $99,000 after acquiring an additional 1,900 shares in the last quarter. 14.87% of the stock is owned by hedge funds and other institutional investors.

About Putnam Premier Income Trust (NYSE:PPT)

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.

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