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 significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 49,186 shares, a decrease of 46.7% from the February 26th total of 92,257 shares. Based on an average daily volume of 113,577 shares, the days-to-cover ratio is presently 0.4 days.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

FPF stock opened at $17.33 on Friday. First Trust Intermediate Duration Preferred & Income Fund has a twelve month low of $15.60 and a twelve month high of $19.75. The stock’s 50 day moving average is $18.68 and its 200-day moving average is $18.79.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.1375 per share. The ex-dividend date is Wednesday, April 1st. This represents a c) annualized dividend and a yield of 9.5%.

Hedge Funds Weigh In On First Trust Intermediate Duration Preferred & Income Fund

A number of hedge funds have recently bought and sold shares of FPF. CIBC Private Wealth Group LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the fourth quarter valued at about $49,000. Advisory Services Network LLC purchased a new position in First Trust Intermediate Duration Preferred & Income Fund during the third quarter worth about $53,000. Jones Financial Companies Lllp bought a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter worth about $60,000. Ameriflex Group Inc. bought a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter worth about $100,000. Finally, Geneos Wealth Management Inc. increased its stake in 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 valued at $130,000 after buying an additional 1,065 shares during the last quarter.

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.