Putnam Master Intermediate Income Trust (NYSE:PIM) Trading Up 0.3% Following Dividend Announcement

Putnam Master Intermediate Income Trust (NYSE:PIM)’s share price shot up 0.3% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $3.24 and last traded at $3.24. 62,861 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 54,674 shares. The stock had previously closed at $3.23.

The newly announced dividend which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 24th will be issued a $0.022 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.26 dividend on an annualized basis and a yield of 8.20%.

Putnam Master Intermediate Income Trust Price Performance

The stock’s 50 day simple moving average is $3.17 and its 200-day simple moving average is $3.19.

Institutional Investors Weigh In On Putnam Master Intermediate Income Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. WealthShield Partners LLC acquired a new stake in shares of Putnam Master Intermediate Income Trust in the fourth quarter worth about $32,000. Gridiron Partners LLC acquired a new stake in Putnam Master Intermediate Income Trust in the 4th quarter worth approximately $34,000. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in Putnam Master Intermediate Income Trust during the fourth quarter worth approximately $34,000. IFG Advisory LLC acquired a new position in Putnam Master Intermediate Income Trust during the fourth quarter valued at approximately $34,000. Finally, Raymond James & Associates bought a new position in shares of Putnam Master Intermediate Income Trust in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 55.06% of the company’s stock.

About Putnam Master Intermediate Income Trust

Putnam Master Intermediate 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 fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.