Covestor model: Tactical and Opportunistic
We received our dividend from American Capital Agency Corp. (AGNC) on April 4th. The agency also reported good earnings on May 2 that showed the success of the company's drive to lower the loan balance of mortgages and loans originating from the U.S government's Home Affordable Refinance Program (HARP).
One of our other holdings, Frontier Communications (FTR), has not been doing as well and the company's stock recently dropped below $4 per share. I'm considering cutting some of our position in FTR depending on their latest earnings report.
Covestor Ltd. is a registered investment advisor. Covestor licenses investment strategies from its Model Managers to establish investment models. The commentary here is provided as general and impersonal information and should not be construed as recommendations or advice. Information from Model Managers and third-party sources deemed to be reliable but not guaranteed. Past performance is no guarantee of future results. Transaction histories for Covestor models available upon request. Additional important disclosures available at http://site.covestor.com/help/disclosures. For information about Covestor and its services, go to http://covestor.com or contact Covestor Client Services at (866) 825-3005, x703.
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