Sunday, April 19, 2009

Illinois investment firm doubles its stake in Lee

From Editor & Publisher's Fitz & Jen:
Fitz: First Trust Portfolios, a Wheaton, Ill.-based investment firm, has nearly doubled its stake in Lee Enterprises, according to an SEC filing Thursday. First Trust, which on Dec. 31 said it held 1.43 million shares, or 3.67%, of the troubled community publisher, now holds 2.72 million shares, or 7.0%, according to the filing.

At about noon, Lee stock (NYSE: LEE) was trading at 43 cents, up 5 cents, or 13%, from the open. LEE’s share price is down 96% from the $10.44-a-share close exactly one year ago.

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