First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Update

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 16,900 shares, a drop of 54.4% from the August 31st total of 37,100 shares. Based on an average trading volume of 169,900 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 1.0 %

FPF opened at $19.48 on Friday. The company has a fifty day moving average price of $18.62 and a two-hundred day moving average price of $18.02. First Trust Intermediate Duration Preferred & Income Fund has a 52 week low of $13.91 and a 52 week high of $19.60.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.1375 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.65 dividend on an annualized basis and a dividend yield of 8.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its holdings in First Trust Intermediate Duration Preferred & Income Fund by 158.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 23,769 shares of the company’s stock worth $388,000 after purchasing an additional 14,578 shares during the period. Gridiron Partners LLC acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth $748,000. Prevail Innovative Wealth Advisors LLC grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 52.3% in the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 33,365 shares of the company’s stock valued at $544,000 after acquiring an additional 11,460 shares during the period. MGO One Seven LLC raised its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 2,011.6% during the fourth quarter. MGO One Seven LLC now owns 379,688 shares of the company’s stock worth $6,193,000 after purchasing an additional 361,707 shares during the period. Finally, Quarry LP acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth about $426,000.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

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.