Putnam Master Intermediate Income Trust (NYSE:PIM) Plans $0.02 Monthly Dividend

Putnam Master Intermediate Income Trust (NYSE:PIM) declared a monthly dividend on Monday, March 25th, Wall Street Journal reports. Stockholders of record on Wednesday, April 24th will be paid a dividend of 0.022 per share on Wednesday, May 1st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 8.28%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Putnam Master Intermediate Income Trust has decreased its dividend by an average of 9.1% annually over the last three years.

Putnam Master Intermediate Income Trust Stock Performance

Shares of NYSE:PIM remained flat at $3.19 during mid-day trading on Tuesday. 26,865 shares of the stock were exchanged, compared to its average volume of 55,759. The firm’s fifty day simple moving average is $3.20 and its two-hundred day simple moving average is $3.12. Putnam Master Intermediate Income Trust has a 52 week low of $2.90 and a 52 week high of $3.28.

Hedge Funds Weigh In On Putnam Master Intermediate Income Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Transform Wealth LLC increased its stake in Putnam Master Intermediate Income Trust by 2.6% in the fourth quarter. Transform Wealth LLC now owns 200,225 shares of the company’s stock valued at $639,000 after purchasing an additional 5,000 shares in the last quarter. Quarry LP bought a new stake in shares of Putnam Master Intermediate Income Trust during the second quarter worth about $77,000. Envestnet Asset Management Inc. bought a new stake in shares of Putnam Master Intermediate Income Trust during the second quarter worth about $699,000. JPMorgan Chase & Co. bought a new stake in shares of Putnam Master Intermediate Income Trust during the first quarter worth about $66,000. Finally, Susquehanna International Group LLP bought a new stake in Putnam Master Intermediate Income Trust in the 1st quarter worth about $121,000. Institutional investors and hedge funds own 47.74% 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.