Federated Premier Intermediate Municipal (NYSE:FPT) is Attracting Smart Money

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Federated Premier Intermediate Municipal (NYSE:FPT) reported that Karpus Management, Inc. has picked up 1,472,058 of common stock as of 2017-06-21.

The acquisition brings the aggregate amount owned by Karpus Management, Inc. to a total of 1,472,058 representing a 21.08% stake in the company.

For those not familiar with the company, Federated Premier Intermediate Municipal Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to provide current income exempt from federal income tax, including the federal alternative minimum tax (AMT). The Fund invests in various sectors, such as pre-refunded, dedicated tax, hospital, education, toll road, senior care, water and sewer, public power, airport, industrial development bond/pollution control revenue and public power. The Fund’s investments include municipal bonds of various states, such as Alabama, Arizona, California, Colorado, District of Columbia, Florida, Delaware, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, North Carolina, Oregon, Kansas, Kentucky, Missouri, Nebraska, Tennessee and Washington, and short-term municipals. Federated Investment Management Company is the Fund’s advisor.

A glance at Federated Premier Intermediate Municipal (NYSE:FPT)’s key stats reveals a current market capitalization of $95.73 Million based on $6.98 Million shares outstanding and a price at last close of $13.65 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-03-20, Bank picked up 52 at a purchase price of $12.94. This brings their total holding to 52 as of the date of the filing.

On the sell side, the most recent transaction saw Bank unload 52 shares at a sale price of $12.89. This brings their total holding to 0.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Federated Premier Intermediate Municipal (NYSE:FPT) as things move forward to see if its progress aligns with these transactions.

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