If you would like to see some dirty share price manipulation, look no further than Putnam Master Intermediate Income Trust (symbol: PIM). On days when PIM must pay its monthly distribution, the share price on the market jumps up hugely. The resultâshareholders who have elected dividend reinvestment get screwed. Their monthly distribution buys a significantly lower number of shares at the higher price. Then, after the distribution has been paid, PIM falls down to a much lower share price on the same day. Examples: September 30, 2008 close $5.39 October 1, 2008 open $5.89 (dividend reinvestment price) October 1, 2008 close $5.10 October 31, 2008 close $4.90 November 3, 2008 open $5.40 (dividend reinvestment price) November 3, 2008 close $4.81