First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Update

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 51,039 shares, a decrease of 51.9% from the August 31st total of 106,186 shares. Based on an average daily trading volume, of 177,879 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 4.8% during the second quarter. NewEdge Advisors LLC now owns 86,756 shares of the company’s stock valued at $1,576,000 after purchasing an additional 3,986 shares during the last quarter. Baird Financial Group Inc. grew its position in First Trust Intermediate Duration Preferred & Income Fund by 2.8% in the second quarter. Baird Financial Group Inc. now owns 102,354 shares of the company’s stock worth $1,860,000 after buying an additional 2,774 shares during the last quarter. Rareview Capital LLC increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 45.1% in the second quarter. Rareview Capital LLC now owns 133,367 shares of the company’s stock valued at $2,510,000 after buying an additional 41,450 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 765.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,622 shares of the company’s stock valued at $48,000 after buying an additional 2,319 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the 2nd quarter valued at $1,028,000.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

NYSE:FPF traded up $0.06 during mid-day trading on Tuesday, reaching $16.10. 367,451 shares of the stock were exchanged, compared to its average volume of 116,903. The business has a fifty day moving average price of $17.42 and a 200 day moving average price of $17.84. First Trust Intermediate Duration Preferred & Income Fund has a 1-year low of $15.86 and a 1-year high of $19.36.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.1375 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.65 annualized dividend and a dividend yield of 10.2%.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) is a diversified, exchange-listed closed-end fund managed by First Trust Advisors L.P. The fund seeks to provide current income and, as a secondary objective, capital appreciation.

FPF invests primarily in preferred securities and income-producing debt instruments, including corporate bonds and other fixed-income securities. The portfolio is designed to maintain an intermediate level of interest-rate sensitivity while seeking attractive income opportunities across different segments of the preferred and fixed-income markets.

The fund may invest in securities issued by companies and other entities in the United States and international markets.