Read Larry Connors' blog – Short Term Trading Strategies
For the six-month period, FMN had net investment income of $3.5 million or $0.56 per common share. From this amount, FMN paid dividends on preferred shares of $0.9 million, resulting in net investment income after the preferred dividends of $2.6 million or $0.42 per common share. Net realized and unrealized losses were $3.2 million or $0.52 per common share. At May 31, 2008, FMN had an undistributed income reserve of $0.029 per common share, up from $0.011 per common share at Nov. 30, 2007. Total managed assets of FMN were $140.19 million and the net asset value per common share was $14.10.
For the six-month period, FPT had net investment income of $3.4 million or $0.49 per common share. From this amount, FPT paid dividends on preferred shares of $1.0 million, resulting in net investment income after the preferred dividends of $2.4 million or $0.35 per common share. Net realized and unrealized losses were $2.5 million or $0.36 per common share. At May 31, 2008, FPT had an undistributed income reserve of $0.013 per common share, up from $0.008 per common share at Nov. 30, 2007. Total managed assets of FPT were $156.9 million and the net asset value per common share was $13.80.
Both FMN and FPT have paid monthly tax-free dividends since their first dividend declaration in February 2003. During the six-month period, the funds maintained their respective monthly common dividends with FMN paying $0.0670 per share and FPT paying $0.0575 per share.
Fund composition and performance data for the funds as of June 30, 2008 is available in the Products section of FederatedInvestors.com. Data is updated on the Web site approximately 15 days following each month-end and full portfolio listings are updated approximately 30 days following each calendar quarter-end. To order hard copies or to be placed on a mailing list, call 1- 800-245-0242 x7538, email CEinfo@federatedinv.com or write to Federated Investors, 1001 Liberty Avenue, Floor 23, Pittsburgh, PA 15222.
The joint annual shareholder meeting for both common and preferred shares of the closed-end municipal funds will be held on Sept. 19, 2008 at 2 p.m. Eastern at Federated Investors' offices located at 5800 Corporate Drive in Pittsburgh. The purpose of the meeting is the election of trustees. Shareholders of record at the close of business on July 8, 2008 are entitled to vote at the meeting.
Federated Investors, Inc. (NYSE: FII | Quote | Chart | News | PowerRating) is one of the largest investment managers in the United States, managing approximately $333.5 billion in assets as of June 30, 2008. With 147 mutual funds and a variety of separately managed account options, Federated provides comprehensive investment management worldwide to more than 5,400 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.
FEDERATED PREMIER MUNICIPAL INCOME FUND (FMN) SUMMARY OF RESULTS OF OPERATIONS (For a Common Share Outstanding Throughout Each Period) Six Months Ended Period (unaudited) Year Ended Nov. 30, Ended May 31, Nov. 30, 2008 2007 2006 2005 2004 2003(1) Net Asset Value, Beginning of Period $14.60 $15.56 $15.05 $14.66 $14.56 $14.33 Income From Investment Operations: Net investment income(2) 0.56 1.12 1.12 1.12 1.13 0.98 Net realized and unrealized gain (loss) on investments, swap contracts and futures contracts (0.52) (0.96) 0.55 0.43 0.07 0.32 Distributions to preferred shareholders from net investment income(3) (0.14) (0.32) (0.29) (0.19) (0.10) (0.08) TOTAL FROM INVESTMENT OPERATIONS (0.10) (0.16) 1.38 1.36 1.10 1.22 Less Distributions to Common Shareholders: From net investment income (0.40) (0.80) (0.87) (0.97) (1.00) (0.84) Capital Charges With Respect to Issuance of: Common shares - - - - - (0.03) Preferred shares - - - - - (0.12) TOTAL CAPITAL CHARGES - - - - - (0.15) Net Asset Value, End of Period $14.10 $14.60 $15.56 $15.05 $14.66 $14.56 Market Price, End of Period $14.18 $13.92 $15.80 $14.44 $14.31 $14.25 Total Return at Net Asset Value(4) (0.67)% (1.01)% 9.51% 9.49% 8.05% 7.70% Total Return at Market Price(5) 4.84% (7.03)% 15.90% 7.75% 7.76% 0.70%
(1) Reflects operations for the period from Dec. 20, 2002 (date of initial public investment) to Nov. 30, 2003.
(2) Per share numbers have been calculated using the average shares method.
(3) The amounts shown are based on Common Share equivalents.
(4) Total Return at Net Asset Value is the combination of changes in the Common Share net asset value, reinvested dividend income and reinvested capital gains distributions at net asset value, if any, and does not reflect the sales charge, if applicable. Total returns for periods of less than one year are not annualized. Total returns for the periods ended Nov. 30, 2004 and 2003 were calculated utilizing the average price paid per share at the time of reinvestment. If net asset value had been utilized, the total returns would have been 7.89% and 7.67%, respectively.
(5) Total Return at Market Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of the reinvestment. Total returns for periods of less than one year are not annualized.
FEDERATED PREMIER INTERMEDIATE MUNICIPAL INCOME FUND (FPT) SUMMARY OF RESULTS OF OPERATIONS (For a Common Share Outstanding Throughout Each Period) Six Months Ended Period (unaudited) Year Ended Nov. 30, Ended May 31, Nov. 30, 2008 2007 2006 2005 2004 2003(1) Net Asset Value, Beginning of Period $14.15 $14.83 $14.41 $14.53 $14.65 $14.33 Income From Investment Operations: Net investment income(2) 0.49 0.99 0.96 0.92 0.90 0.79 Net realized and unrealized gain (loss) on investments, swap contracts and futures contracts (0.35) (0.66) 0.44 (0.08) (0.14) 0.40 Distributions to preferred shareholders from net investment income(3) (0.14) (0.32) (0.29) (0.20) (0.10) (0.08) TOTAL FROM INVESTMENT OPERATIONS 0.00 0.01 1.11 0.64 0.66 1.11 Less Distributions to Common Shareholders: From net investment income (0.35) (0.69) (0.69) (0.76) (0.78) (0.64) Capital Charges With Respect to Issuance of: Common shares - - - - - (0.03) Preferred shares - - - - - (0.12) TOTAL CAPITAL CHARGES - - - - - (0.15) Net Asset Value, End of Period $13.80 $14.15 $14.83 $14.41 $14.53 $14.65 Market Price, End of Period $13.06 $12.50 $13.81 $12.68 $13.50 $13.47 Total Return at Net Asset Value(4) (0.04)% 0.10% 7.94% 4.46% 5.03% 7.05% Total Return at Market Price(5) 7.31% (4.80)% 14.63% (0.66)% 6.14% (5.97)%
(1) Reflects operations for the period from Dec. 20, 2002 (date of initial public investment) to Nov. 30, 2003.
(2) Per share numbers have been calculated using the average shares method.
(3) The amounts shown are based on Common Share equivalents.
(4) Total Return at Net Asset Value is the combination of changes in the Common Share net asset value, reinvested dividend income and reinvested capital gains distributions at net asset value, if any, and does not reflect the sales charge, if applicable. Total returns for periods of less than one year are not annualized. Total returns for the periods ended Nov. 30, 2004 and 2003 were calculated utilizing the average price paid per share at the time of reinvestment. If net asset value had been utilized, the total returns would have been 4.63% and 6.83%, respectively.
(5) Total Return at Market Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of the reinvestment. Total returns for periods of less than one year are not annualized.
SOURCE Federated Investors
http://FederatedInvestors.com
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403
© Copyright 2009 The Connors Group, Inc.
