First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Down 70.6% in July

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 15,869 shares, a drop of 70.6% from the June 30th total of 54,011 shares. Based on an average daily volume of 87,439 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

A number of hedge funds have recently modified their holdings of the business. Onyx Bridge Wealth Group LLC boosted its stake in First Trust Intermediate Duration Preferred & Income Fund by 0.9% during the fourth quarter. Onyx Bridge Wealth Group LLC now owns 63,788 shares of the company’s stock worth $1,189,000 after acquiring an additional 581 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 0.3% during the first quarter. D.A. Davidson & CO. now owns 236,254 shares of the company’s stock valued at $4,165,000 after acquiring an additional 612 shares in the last quarter. Mathes Company Inc. raised its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 4.3% in the 4th quarter. Mathes Company Inc. now owns 18,250 shares of the company’s stock worth $340,000 after purchasing an additional 750 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 18.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock worth $130,000 after purchasing an additional 1,065 shares during the last quarter. Finally, PFG Investments LLC boosted its stake in First Trust Intermediate Duration Preferred & Income Fund by 2.7% in the 1st quarter. PFG Investments LLC now owns 41,112 shares of the company’s stock worth $725,000 after purchasing an additional 1,094 shares in the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.5%

NYSE FPF opened at $17.70 on Friday. First Trust Intermediate Duration Preferred & Income Fund has a fifty-two week low of $17.21 and a fifty-two week high of $19.75. The stock has a 50 day simple moving average of $17.99 and a two-hundred day simple moving average of $18.33.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be given a $0.1375 dividend. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, August 3rd.

About First Trust Intermediate Duration Preferred & Income Fund

First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) is a diversified closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund aims to deliver a consistent distribution by investing primarily in intermediate-duration preferred securities issued by U.S. and foreign corporations, financial institutions and utilities.

The fund’s portfolio is composed predominantly of fixed- and floating-rate preferred stocks, with at least 80% of its total assets invested in such securities.