First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Up 109.9% in August

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 106,186 shares, a growth of 109.9% from the August 15th total of 50,585 shares. Based on an average daily trading volume, of 89,382 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FPF. Jones Financial Companies Lllp bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter valued at approximately $60,000. Invesco Ltd. boosted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 17.3% in the second quarter. Invesco Ltd. now owns 773,685 shares of the company’s stock worth $14,561,000 after purchasing an additional 114,174 shares during the period. NewEdge Advisors LLC increased its stake in First Trust Intermediate Duration Preferred & Income Fund by 59.3% during the second quarter. NewEdge Advisors LLC now owns 94,040 shares of the company’s stock valued at $1,770,000 after purchasing an additional 35,004 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in First Trust Intermediate Duration Preferred & Income Fund by 18.2% during the second quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock valued at $130,000 after purchasing an additional 1,065 shares during the last quarter. Finally, SeaCrest Wealth Management LLC raised its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 23.7% during the third quarter. SeaCrest Wealth Management LLC now owns 16,926 shares of the company’s stock worth $317,000 after purchasing an additional 3,242 shares during the period.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.9%

FPF traded down $0.16 during trading on Monday, hitting $16.87. The company had a trading volume of 137,290 shares, compared to its average volume of 107,143. First Trust Intermediate Duration Preferred & Income Fund has a 1-year low of $16.80 and a 1-year high of $19.75. The business has a 50-day moving average of $17.75 and a 200-day moving average of $18.02.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.1375 dividend. This represents a c) dividend on an annualized basis and a yield of 9.8%. The ex-dividend date is Tuesday, September 1st.

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.