Janney Montgomery Scott LLC Sells 53,923 Shares of Putnam Premier Income Trust (NYSE:PPT)

Janney Montgomery Scott LLC reduced its holdings in shares of Putnam Premier Income Trust (NYSE:PPT) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 714,222 shares of the investment management company’s stock after selling 53,923 shares during the period. Janney Montgomery Scott LLC owned about 0.74% of Putnam Premier Income Trust worth $2,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Luken Investment Analytics LLC purchased a new stake in Putnam Premier Income Trust during the second quarter valued at approximately $29,000. Gilman Hill Asset Management LLC purchased a new stake in shares of Putnam Premier Income Trust in the second quarter worth $54,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Putnam Premier Income Trust in the third quarter worth $105,000. Catalina Capital Group LLC purchased a new stake in shares of Putnam Premier Income Trust in the second quarter worth $197,000. Finally, Creative Planning increased its stake in shares of Putnam Premier Income Trust by 8.3% in the second quarter. Creative Planning now owns 83,867 shares of the investment management company’s stock worth $300,000 after purchasing an additional 6,400 shares in the last quarter. 42.79% of the stock is owned by hedge funds and other institutional investors.

Putnam Premier Income Trust Price Performance

Shares of NYSE PPT opened at $3.59 on Tuesday. The firm has a fifty day moving average price of $3.67 and a 200-day moving average price of $3.60. Putnam Premier Income Trust has a 1 year low of $3.37 and a 1 year high of $3.74.

Putnam Premier Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 22nd will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.31 annualized dividend and a yield of 8.69%.

Putnam Premier Income Trust 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.