Short Interest in First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Rises By 11.9%

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 34,800 shares, an increase of 11.9% from the October 31st total of 31,100 shares. Based on an average trading volume of 143,900 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in First Trust Intermediate Duration Preferred & Income Fund during the third quarter worth $35,000. Wetzel Investment Advisors Inc. bought a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 2nd quarter worth about $46,000. Garden State Investment Advisory Services LLC acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter valued at about $203,000. Harmony Asset Management LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter valued at about $221,000. Finally, Sanctuary Advisors LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the 2nd quarter worth approximately $227,000.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

Shares of First Trust Intermediate Duration Preferred & Income Fund stock opened at $18.84 on Monday. The stock’s 50-day moving average is $19.02 and its 200 day moving average is $18.51. First Trust Intermediate Duration Preferred & Income Fund has a one year low of $15.64 and a one year high of $19.74.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.1375 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 8.76%. The ex-dividend date of this dividend is Monday, December 2nd.

About First Trust Intermediate Duration Preferred & Income Fund

First Trust Intermediate Duration Preferred & Income Fund is a closed end fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Stonebridge Advisors, LLC. It invests in fixed income markets. The fund will also invest in below investment-grade securities like junk or high-yield securities.