First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Sees Large Decline in Short Interest

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 51,039 shares, a decrease of 51.9% from the August 31st total of 106,186 shares. Based on an average daily trading volume, of 177,879 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. boosted its stake in 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 during the period. Royal Bank of Canada lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 6.4% in the first quarter. Royal Bank of Canada now owns 739,258 shares of the company’s stock worth $13,033,000 after buying an additional 44,205 shares in the last quarter. Peak Planning Group LLC purchased a new position in First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter valued at approximately $7,259,000. D.A. Davidson & CO. increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 0.3% during the 1st quarter. D.A. Davidson & CO. now owns 236,254 shares of the company’s stock worth $4,165,000 after acquiring an additional 612 shares during the period. Finally, Rareview Capital LLC boosted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 45.1% in the 2nd quarter. Rareview Capital LLC now owns 133,367 shares of the company’s stock valued at $2,510,000 after purchasing an additional 41,450 shares during the period.

First Trust Intermediate Duration Preferred & Income Fund Stock Down 0.7%

First Trust Intermediate Duration Preferred & Income Fund stock traded down $0.12 during mid-day trading on Wednesday, reaching $15.99. The company’s stock had a trading volume of 193,193 shares, compared to its average volume of 117,311. First Trust Intermediate Duration Preferred & Income Fund has a 12-month low of $15.86 and a 12-month high of $19.36. The firm’s fifty day moving average price is $17.38 and its two-hundred day moving average price is $17.83.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a $0.1375 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend is Thursday, October 1st.

About First Trust Intermediate Duration Preferred & Income Fund

First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) is a diversified, exchange-listed closed-end fund managed by First Trust Advisors L.P. The fund seeks to provide current income and, as a secondary objective, capital appreciation.

FPF invests primarily in preferred securities and income-producing debt instruments, including corporate bonds and other fixed-income securities. The portfolio is designed to maintain an intermediate level of interest-rate sensitivity while seeking attractive income opportunities across different segments of the preferred and fixed-income markets.

The fund may invest in securities issued by companies and other entities in the United States and international markets.