Putnam Premier Income Trust (NYSE:PPT) to Issue $0.03 Monthly Dividend

Putnam Premier Income Trust (NYSE:PPT) announced a monthly dividend on Tuesday, August 1st, Wall Street Journal reports. Stockholders of record on Friday, September 22nd will be paid a dividend of 0.026 per share by the investment management company on Monday, October 2nd. This represents a $0.31 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date of this dividend is Thursday, September 21st.

Putnam Premier Income Trust has decreased its dividend by an average of 9.4% annually over the last three years.

Putnam Premier Income Trust Stock Performance

PPT stock opened at $3.51 on Tuesday. The firm’s fifty day moving average is $3.55 and its 200 day moving average is $3.56. Putnam Premier Income Trust has a one year low of $3.40 and a one year high of $3.91.

Hedge Funds Weigh In On Putnam Premier Income Trust

A number of large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its holdings in Putnam Premier Income Trust by 217.9% in the first quarter. Geneos Wealth Management Inc. now owns 7,042 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 4,827 shares during the period. Wealthsource Partners LLC acquired a new stake in Putnam Premier Income Trust in the 3rd quarter valued at $41,000. Citadel Advisors LLC purchased a new stake in Putnam Premier Income Trust in the 3rd quarter worth $46,000. B. Riley Wealth Advisors Inc. acquired a new position in Putnam Premier Income Trust during the third quarter worth $46,000. Finally, Jane Street Group LLC purchased a new position in Putnam Premier Income Trust during the fourth quarter valued at $54,000. Institutional investors and hedge funds own 31.31% 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.