Putnam Premier Income Trust (NYSE:PPT) Stock Crosses Above 200-Day Moving Average of $0.00

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 $0.00 and traded as high as $5.25. Putnam Premier Income Trust shares last traded at $5.22, with a volume of 8,101 shares changing hands.

The company’s fifty day simple moving average is $5.24 and its 200 day simple moving average is $5.14.

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 23rd will be issued a $0.035 dividend. This represents a $0.42 annualized dividend and a yield of 8.08%. The ex-dividend date is Thursday, August 22nd.

In other Putnam Premier Income Trust news, insider D William Kohli sold 30,481 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $5.31, for a total value of $161,854.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sanders Morris Harris LLC lifted its holdings in shares of Putnam Premier Income Trust by 3.6% during the 1st quarter. Sanders Morris Harris LLC now owns 89,990 shares of the investment management company’s stock worth $464,000 after acquiring an additional 3,100 shares during the last quarter. Strategy Asset Managers LLC bought a new stake in shares of Putnam Premier Income Trust during the 1st quarter worth $49,000. Wedbush Securities Inc. lifted its holdings in shares of Putnam Premier Income Trust by 67.5% during the 1st quarter. Wedbush Securities Inc. now owns 29,844 shares of the investment management company’s stock worth $154,000 after acquiring an additional 12,029 shares during the last quarter. Sterneck Capital Management LLC lifted its holdings in shares of Putnam Premier Income Trust by 5.6% during the 1st quarter. Sterneck Capital Management LLC now owns 300,940 shares of the investment management company’s stock worth $1,550,000 after acquiring an additional 15,980 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Putnam Premier Income Trust by 40.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 249,871 shares of the investment management company’s stock worth $1,287,000 after acquiring an additional 71,888 shares during the last quarter. 16.42% of the stock is owned by 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.

Further Reading: How to execute a trade ex-dividend strategy?

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