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Top 5 High-Yielding Stocks to Own for the Rest of 2017

As an investor whose core strategy focuses on reinvestment of income, I have more difficulty finding high-yielding ideas than I did, say, five years ago, but they do exist. The current yields of the three major indices are quite low by historical standards:

S&P 500: 1.99%

Nasdaq: 1.12%

DJIA: 2.33%

Against that backdrop, I have been tasked by RealMoney's editors with naming my top five high-yielding stocks to own for the second half of 2017. I'm an "income guy," so I fired up my stock screener and, I have to admit, since I generally focus on smaller-cap names, the absolute yields featured by some of the household names in my screen surprised me. To paraphrase Mike Myers in today's markets, "if it's not FANG, it's crap," but I believe high-yielding large-cap names are being ignored in the market's love affair with Nasdaq.

A Controversial Name

Frontier Communications (FTR) , current annualized yield: 16.05%. This is the most controversial, so I am listing it first. As of the most recent data, FTR shares were by far the most heavily shorted on the Nasdaq with an astonishing 28% of the outstanding count shorted against. I'll have much more on FTR between now and the company's second-quarter earnings report on Aug. 1. I believe that report will remind the...