Short Interest in First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Grows By 119.0%

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 32,482 shares, an increase of 119.0% from the December 15th total of 14,834 shares. Based on an average trading volume of 204,511 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 204,511 shares, the short-interest ratio is currently 0.2 days.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.5%

FPF stock traded up $0.10 during midday trading on Wednesday, reaching $18.84. 143,024 shares of the company’s stock traded hands, compared to its average volume of 112,692. The stock’s 50-day moving average is $18.65 and its 200 day moving average is $18.88. First Trust Intermediate Duration Preferred & Income Fund has a 52-week low of $15.60 and a 52-week high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.1375 per share. This represents a c) annualized dividend and a yield of 8.8%. The ex-dividend date is Wednesday, December 31st.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gridiron Partners LLC lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 9,427.9% during the 3rd quarter. Gridiron Partners LLC now owns 2,530,426 shares of the company’s stock worth $509,000 after acquiring an additional 2,503,868 shares in the last quarter. Invesco Ltd. raised its stake in First Trust Intermediate Duration Preferred & Income Fund by 17.3% during the 2nd quarter. Invesco Ltd. now owns 773,685 shares of the company’s stock valued at $14,561,000 after acquiring an additional 114,174 shares during the last quarter. MGO One Seven LLC increased its position in First Trust Intermediate Duration Preferred & Income Fund by 1.2% during the 3rd quarter. MGO One Seven LLC now owns 411,821 shares of the company’s stock worth $7,886,000 after purchasing an additional 4,860 shares during the period. D.A. Davidson & CO. lifted its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 55.1% in the third quarter. D.A. Davidson & CO. now owns 224,545 shares of the company’s stock valued at $4,300,000 after purchasing an additional 79,734 shares during the period. Finally, Osaic Holdings Inc. raised its position in First Trust Intermediate Duration Preferred & Income Fund by 1.5% during the second quarter. Osaic Holdings Inc. now owns 141,668 shares of the company’s stock worth $2,666,000 after acquiring an additional 2,083 shares during the last quarter.

About First Trust Intermediate Duration Preferred & Income Fund

First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) is a diversified closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund aims to deliver a consistent distribution by investing primarily in intermediate-duration preferred securities issued by U.S. and foreign corporations, financial institutions and utilities.

The fund’s portfolio is composed predominantly of fixed- and floating-rate preferred stocks, with at least 80% of its total assets invested in such securities.