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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 79,143 shares, an increase of 60.9% from the March 15th total of 49,186 shares. Based on an average daily trading volume, of 162,180 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Large investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in First Trust Intermediate Duration Preferred & Income Fund by 6.0% in the fourth quarter. Morgan Stanley now owns 9,196,102 shares of the company’s stock worth $171,415,000 after acquiring an additional 522,557 shares during the period. Gridiron Partners LLC increased its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 9,427.9% in the 3rd quarter. Gridiron Partners LLC now owns 2,530,426 shares of the company’s stock worth $509,000 after purchasing an additional 2,503,868 shares in the last quarter. Sit Investment Associates Inc. increased its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 111.6% in the 4th quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock worth $22,660,000 after purchasing an additional 641,124 shares in the last quarter. Wells Fargo & Company MN raised its holdings in First Trust Intermediate Duration Preferred & Income Fund by 13.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,154,534 shares of the company’s stock worth $21,521,000 after purchasing an additional 141,156 shares during the period. Finally, LPL Financial LLC lifted its position in First Trust Intermediate Duration Preferred & Income Fund by 13.9% during the fourth quarter. LPL Financial LLC now owns 949,342 shares of the company’s stock valued at $17,696,000 after purchasing an additional 115,746 shares in the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Stock Down 0.3%

First Trust Intermediate Duration Preferred & Income Fund stock traded down $0.05 during mid-day trading on Wednesday, reaching $18.33. 123,884 shares of the stock traded hands, compared to its average volume of 120,199. First Trust Intermediate Duration Preferred & Income Fund has a 12-month low of $16.82 and a 12-month high of $19.75. The business’s 50-day moving average is $18.43 and its 200-day moving average is $18.64.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.1375 dividend. This represents a c) annualized dividend and a dividend yield of 9.0%. The ex-dividend date is Wednesday, April 1st.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

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.