First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Up 19.3% in January

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 38,744 shares, an increase of 19.3% from the December 31st total of 32,482 shares. Based on an average trading volume of 116,822 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 116,822 shares, the short-interest ratio is currently 0.3 days.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

Shares of NYSE:FPF traded up $0.01 during midday trading on Wednesday, hitting $18.83. 132,317 shares of the stock traded hands, compared to its average volume of 113,475. The business’s 50 day moving average is $18.70 and its two-hundred day moving average is $18.88. First Trust Intermediate Duration Preferred & Income Fund has a one year low of $15.60 and a one year high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be issued a $0.1375 dividend. The ex-dividend date is Monday, February 2nd. This represents a c) annualized dividend and a yield of 8.8%.

Hedge Funds Weigh In On First Trust Intermediate Duration Preferred & Income Fund

Several hedge funds have recently made changes to their positions in FPF. Silver Oak Securities Incorporated lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 6.8% in the third quarter. Silver Oak Securities Incorporated now owns 13,312 shares of the company’s stock worth $255,000 after acquiring an additional 851 shares during the period. PFG Investments LLC increased its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.7% during the third quarter. PFG Investments LLC now owns 35,314 shares of the company’s stock valued at $676,000 after buying an additional 933 shares during the period. Geneos Wealth Management Inc. increased its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 18.2% during the second quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock valued at $130,000 after buying an additional 1,065 shares during the period. Saxony Capital Management LLC raised its stake in First Trust Intermediate Duration Preferred & Income Fund by 4.1% in the third quarter. Saxony Capital Management LLC now owns 27,950 shares of the company’s stock worth $535,000 after buying an additional 1,100 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 3.3% in the second quarter. Prospera Financial Services Inc now owns 41,580 shares of the company’s stock worth $783,000 after buying an additional 1,327 shares during the period.

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.