First Trust Tax-Advantaged Preferred Income Fund Declares its Quarterly Distribution of $0.21 per Share.LISLE, Ill. -- First Trust Tax-Advantaged Preferred Income Fund (the "Fund") (AMEX AMEX See: American Stock Exchange : FPI FPI Formal Public Identifier FPI Front Populaire Ivoirien (French: Ivorian Popular Front, Icory Coast) FPI Federal Prison Industries, Inc. FPI Front Pembela Islam (Indonesian: Islamic Defenders Front) ) today declared its regularly scheduled quarterly distribution payable on September 30, 2008 to shareholders of record as of September 22, 2008. The ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. is expected to be September 18, 2008. The quarterly distribution information for the Fund appears below. [TABLE OMITTED] The majority of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all distributions paid in 2008 will be made after the end of 2008. The Fund is a diversified, closed-end management investment company that seeks to provide current income and, to a lesser extent, capital preservation. The Fund seeks to achieve its investment objective by investing at least 80% of its managed assets in preferred securities that the investment sub-advisor believes at the time of investment are eligible to pay dividends that qualify for certain favorable federal income tax treatment as "tax-advantaged" when received by shareholders of the Fund. First Trust Advisors L.P., the Fund's investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and , along with its affiliate First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management, financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , and municipal and corporate investment banking, with collective assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. or supervision of over $30 billion as of August 31, 2008 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds. Stonebridge Advisors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Stonebridge"), the Fund's investment sub-advisor and an affiliate of First Trust Advisors L.P., is a niche asset management firm that manages portfolios of preferred securities as well as customized North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Equities Portfolios for investors. Stonebridge, formed in December 2004, serves as investment advisor or portfolio manager to investment portfolios with approximately $453 million in assets which it managed or supervised as of June 30, 2008. A portion of these assets are contained in investments sponsored by First Trust Portfolios L.P., for which Stonebridge acts as Sub-Portfolio Supervisor. Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. Principal Risk Factors. The Fund is exposed to several risks including the following: investment and market risk; management risk; interest rate risk; credit risk; leverage risk; high-yield securities risk; preferred securities risk; illiquid Illiquid An asset or security that cannot be converted into cash very quickly (or near prevailing market prices). Notes: A house is a good example of an illiquid asset. See also: Cash, Liquidity Illiquid In the context of finance. securities risk; financial services sector risk; sub-advisor risk; value investing risk; dividend strategy risk; qualified dividend task risk; equity securities risk; small and medium cap company risk; and non-U.S. securities risk. The Fund's daily American Stock Exchange closing price and net asset value per share as well as other information can be found at www.ftportfolios.com or by calling 1-800-988-5891. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion