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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 49,186 shares, a decline of 46.7% from the February 26th total of 92,257 shares. Based on an average daily trading volume, of 113,577 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth approximately $49,000. Advisory Services Network LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the third quarter worth $53,000. Jones Financial Companies Lllp acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the first quarter valued at $60,000. Ameriflex Group Inc. acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at $100,000. Finally, Geneos Wealth Management Inc. boosted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 18.2% in the second quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock valued at $130,000 after purchasing an additional 1,065 shares during the period.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

Shares of FPF stock traded down $0.48 on Friday, hitting $17.33. The stock had a trading volume of 166,199 shares, compared to its average volume of 120,963. The company’s 50 day moving average price is $18.68 and its 200-day moving average price is $18.78. First Trust Intermediate Duration Preferred & Income Fund has a 1 year low of $15.60 and a 1 year high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.1375 per share. The ex-dividend date is Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 9.5%.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

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.