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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 153,900 shares, an increase of 1,520.0% from the May 31st total of 9,500 shares. Based on an average trading volume of 131,900 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Several hedge funds have recently modified their holdings of FPF. Cary Street Partners Investment Advisory LLC increased its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 83.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,650 shares of the company’s stock worth $25,000 after buying an additional 750 shares during the period. Larson Financial Group LLC raised its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 223.0% in the 1st quarter. Larson Financial Group LLC now owns 2,180 shares of the company’s stock valued at $39,000 after purchasing an additional 1,505 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the 1st quarter worth $118,000. PNC Financial Services Group Inc. grew its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 16.7% during the third quarter. PNC Financial Services Group Inc. now owns 7,000 shares of the company’s stock worth $104,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth $172,000.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

Shares of FPF opened at $18.20 on Friday. The company’s 50-day simple moving average is $17.60 and its 200-day simple moving average is $17.30. First Trust Intermediate Duration Preferred & Income Fund has a 1 year low of $13.91 and a 1 year high of $18.25.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.1375 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.65 annualized dividend and a yield of 9.07%.

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.