Filing Details
- Accession Number:
- 0001048703-17-000088
- Form Type:
- 13D Filing
- Publication Date:
- 2017-08-01 16:00:31
- Filed By:
- Karpus Management, Inc.
- Company:
- Federated Premier Intermediate Municipal Income Fund (NYSE:FPT)
- Filing Date:
- 2017-08-01
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Karpus Investment Management | 1,320,970 | 9,826 | 1,320,970 | 9,826 | 1,320,970 | 18.92% |
| George W. Karpus | 123,301 | 123,301 | 133,127 | 1.91% |
Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 3)
1
Federated Premier Intermediate Municipal Income Fund
(Name of Issuer)
Common Stock
(Title of Class of Securities)
31423M105
(CUSIP Number)
Daniel Lippincott, Senior Tax-Sensitive Manager
Karpus Management, Inc.
d/b/a Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
(585) 586-4680
Adam W. Finerman, Esq.
Olshan Frome Wolosky LLP
1325 Avenue of the Americas
New York, New York 10022
(212) 451-2300
Authorized to Receive Notices and Communications)
July 31, 2017
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
_______________
1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP NO.
31423M105
| 1 | NAME OF REPORTING PERSON
Karpus Investment Management
| ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
| 3 | SEC USE ONLY | ||
| 4 | SOURCE OF FUNDS AF | ||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION NEW YORK | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
1,320,970
| |
| 8 | SHARED VOTING POWER
-
| ||
| 9 | SOLE DISPOSITIVE POWER
1,320,970
| ||
| 10 | SHARED DISPOSITIVE POWER
-
| ||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,320,970
| ||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.92%
| ||
| 14 | TYPE OF REPORTING PERSON IA | ||
CUSIP NO.
31423M105
| 1 | NAME OF REPORTING PERSON
George W. Karpus
| ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
| 3 | SEC USE ONLY | ||
| 4 | SOURCE OF FUNDS AF | ||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION NEW YORK | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
123,301
| |
| 8 | SHARED VOTING POWER
9,826
| ||
| 9 | SOLE DISPOSITIVE POWER
123,301
| ||
| 10 | SHARED DISPOSITIVE POWER
9,826
| ||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
133,127
| ||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.91%
| ||
| 14 | TYPE OF REPORTING PERSON OO | ||
CUSIP NO.
31423M105
The following constitutes Amendment No.
3
to the Schedule 13D filed by the undersigned (“Amendment No.
3
”). This Amendment No.
3
amends the Schedule 13D as specifically set forth herein.
| Item 2. | Identity and Background. |
a) This statement is filed by:
- (i) Karpus Management, Inc., d/b/a Karpus Investment Management ("Karpus"); and
(ii) George W. Karpus, the President and CEO of Karpus. Mr. Karpus owns Shares individually and may be deemed the beneficial owner of Shares held by The Karpus Family Foundation, Inc., George W. Karpus IRA Rollover, Karpus Investment Management Profit Sharing Plan Fund C- Growth Common Stock Fund, and Karpus Investment Management Defined Benefit Plan (collectively, the "Karpus Entities").
Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons." Each of the Reporting Persons is party to that certain Joint Filing Agreement as further described in Item 6. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D.
Set forth on Schedule A annexed hereto ("Schedule A") is the name and present principal business, occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted of the executive officers and directors of Karpus. To the best of the Reporting Persons' knowledge, except as otherwise set on Schedule A, none of the persons listed on Schedule A beneficially owns any securities of the Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.
(b) The address of the principal office of each of the Reporting Persons is 183 Sully's Trail, Pittsford, New York 14534.
(c) The principal business of Karpus is serving as a registered investment adviser who provides investment management for individuals, pension plans, profit sharing plans, corporations, endowments, trusts, and others. The principal occupation of Mr. Karpus is serving as the President and CEO of Karpus.
(d) No Reporting Person nor any person listed on Schedule A has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) No Reporting Person nor any person listed on Schedule A has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f) Karpus is organized under the laws of the State of New York. Mr. Karpus is a citizen of the United States of America.
CUSIP NO.
31423M105
| Item 3. | Source and Amount of Funds or Other Consideration.. |
Karpus, an independent registered investment advisor, has accumulated
1,320,970
Shares on behalf of accounts that are managed by Karpus (the “Accounts”) under limited powers of attorney, which represents
18.92%
of the outstanding Shares. All funds that have been utilized in making such purchases are from such Accounts.
The aggregate purchase price of the
1,320,970
Shares beneficially owned by Karpus Investment Management is approximately
$17,138,399
, excluding brokerage commissions.
The aggregate purchase price of the
133,127
Shares held by Mr. Karpus and the Karpus Entities
is approximately
$1,693,295
, excluding brokerage commissions.
CUSIP NO.
31423M105
| Item 4. | Purpose of Transaction.. |
KIM has purchased Shares for the Accounts for investment purposes. However, KIM reserves the right to contact management with regard to concerns that they have with respect to the Fund. This may include letters to the Board and/or other communications with Fund management. Being an independent registered investment advisor, with a specialty focus in closed end funds, the profile of this security fits the investment guidelines for various Accounts. Shares have been acquired since
July 10, 2014
.
CUSIP NO.
31423M105
| Item 5. | Interest in Securities of the Issuer. |
Item 5(a)-(c) is hereby amended and restated to read as follows:
The aggregate percentage of Shares reported owned by each Reporting Person is based upon
6,982,324
Shares outstanding, which is the total number of Shares outstanding as of
August 1, 2017
as reported in the Issuer’s Certified Shareholder Report of Registered Management Investment Companies on Form N-CSR, filed with the Securities and Exchange Commission on
February 02, 2017
.
CUSIP NO.
31423M105
| Item 6. | Contracts, Arrangements, Understandings or Relationships With respect to the Issuer. |
Item 6 is hereby amended to add the following:
On June 20, 2017, Karpus and FIMC entered into a Compromise and Standstill Agreement defined and described in Item 4 above and attached as Exhibit 99.1 hereto.
On June 20, 2017, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons who will remain Reporting Persons subsequent to this Amendment No. 2 agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the secrurities of the Issuer to the extent required by applicable law. A copy of this agreement is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
CUSIP NO.
31423M105
| Item 7. | Material to be Filed as Exhibits. |
Item 7 is hereby amended to add the following exhibits:
| | 99.1 | Compromise and Standstill Agreement, by and between FIMC and Karpus, dated June 20, 2017 |
| | 99.2 | Joint Filing Agreement, by and between Karpus Management, Inc. and George W. Karpus, dated June 20, 2017 |
CUSIP NO.
31423M105
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated:
August 1, 2017
| KARPUS MANAGEMENT, INC. | |||
| By: | /s/ Daniel Lippincott | ||
| Name: | Daniel Lippincott | ||
| Title: | Senior Tax-Sensitive Manager | ||
| /s/ George W. Karpus | |
| GEORGE W. KARPUS |
| /s/ Arthur Charles Regan | |
| ARTHUR CHARLES REGAN |
| /s/ Dr. Daniel C. Robeson | |
| DR. DANIEL C. ROBESON |
| /s/ Dr. Sandeep Singh | |
| DR. SANDEEP SINGH |
CUSIP NO.
31423M105
SCHEDULE A
Executive Officers & Directors of Karpus Management, Inc., d/b/a Karpus Investment Management
| Name | Position & Present Principal Occupation | Business Address | Shares Owned |
| George W. Karpus | President, CEO, and Chairman of the Board | 183 Sully’s Trail, Pittsford, New York 14534 | See Above |
| Kathleen Finnerty Crane | Chief Financial Officer and Chief Compliance Officer | 183 Sully’s Trail, Pittsford, New York 14534 |
0
Shares |
| Dana R. Consler | Executive Vice President | 183 Sully’s Trail, Pittsford, New York 14534 |
0
Shares |
| Thomas M. Duffy | Vice President | 183 Sully’s Trail, Pittsford, New York 14534 |
0
Shares |
| Sharon L. Thornton | Senior Director of Investments | 183 Sully’s Trail, Pittsford, New York 14534 |
0
Shares |
| Daniel L. Lippincott | Sr. Tax-Sensitive Manager and Director of Investment Personnel | 183 Sully’s Trail, Pittsford, New York 14534 |
0
Shares |
CUSIP NO.
31423M105
SCHEDULE B
Transactions in the Shares over the last 60 days.
| Nature of the Transaction | Securities Purchased/(Sold) | Price Per Share($) | Date of Purchase / Sale |
KARPUS MANAGEMENT, INC., D/B/A/ KARPUS INVESTMENT MANAGEMENT
(THROUGH THE ACCOUNTS)
(THROUGH THE ACCOUNTS)
|
Sale of Common Stock
|
(100)
|
$13.80
|
7/12/2017
|
|
Sale of Common Stock
|
(352)
|
$13.85
|
7/13/2017
|
|
Sale of Common Stock
|
(84,765)
|
$13.89
|
7/14/2017
|
|
Sale of Common Stock
|
(27,340)
|
$13.92
|
7/17/2017
|
|
Sale of Common Stock
|
(102)
|
$13.92
|
7/18/2017
|
|
Sale of Common Stock
|
(2,500)
|
$13.86
|
7/20/2017
|
|
Sale of Common Stock
|
(7,687)
|
$13.87
|
7/21/2017
|
|
Sale of Common Stock
|
(25,000)
|
$13.89
|
7/24/2017
|
|
Sale of Common Stock
|
(3,242)
|
$13.83
|
7/28/2017
|