Author: Ben Wong
Covestor model: Tactical and Opportunistic
We sold our position in Microsoft (MSFT) at 32.26 on March 3 as it was nearing its 52-week high.
Meanwhile, Frontier Communications (FTR) announced that it has finished its 14-state systems conversion of its acquisition of Verizon’s (VZ) wire lines 9 months ahead of schedule, which may help the company to reduce costs and improve customer service.
The market reaction has been positive and Frontier’s share price has been going up in early April. It closed above its resistance, the 50-day moving average on April 5. We also collected our dividend from FTR on 3/30/12.
There was no change to the positions of Invesco Mortgage Capital (IVR) and American Capital Agency Corp. (AGNC). We will be expecting our dividend from AGNC and IVR on April 4th.
