Short Interest in First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Drops By 24.1%

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 68,500 shares, a drop of 24.1% from the February 28th total of 90,300 shares. Based on an average daily volume of 130,800 shares, the days-to-cover ratio is currently 0.5 days.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.1 %

FPF opened at $18.44 on Monday. The firm has a 50-day moving average price of $18.62 and a 200-day moving average price of $18.70. First Trust Intermediate Duration Preferred & Income Fund has a twelve month low of $16.50 and a twelve month high of $19.74.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.1375 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $1.65 dividend on an annualized basis and a yield of 8.95%.

Institutional Investors Weigh In On First Trust Intermediate Duration Preferred & Income Fund

Several institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 5.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,008,899 shares of the company’s stock worth $18,160,000 after purchasing an additional 55,509 shares in the last quarter. Invesco Ltd. grew its position in First Trust Intermediate Duration Preferred & Income Fund by 25.9% in the fourth quarter. Invesco Ltd. now owns 830,895 shares of the company’s stock worth $14,956,000 after acquiring an additional 171,085 shares in the last quarter. Royal Bank of Canada increased its stake in First Trust Intermediate Duration Preferred & Income Fund by 7.2% in the fourth quarter. Royal Bank of Canada now owns 754,823 shares of the company’s stock valued at $13,587,000 after acquiring an additional 50,935 shares during the last quarter. LPL Financial LLC raised its position in First Trust Intermediate Duration Preferred & Income Fund by 5.1% during the fourth quarter. LPL Financial LLC now owns 693,772 shares of the company’s stock valued at $12,488,000 after purchasing an additional 33,930 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 4.3% during the fourth quarter. Ameriprise Financial Inc. now owns 234,243 shares of the company’s stock worth $4,239,000 after purchasing an additional 9,648 shares during the last quarter.

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.