First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Short Interest Falls 51.9%

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 51,039 shares, a drop of 51.9% from the August 31st total of 106,186 shares. Based on an average trading volume of 177,879 shares, the short-interest ratio is currently 0.3 days.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

Shares of FPF traded down $0.31 during trading hours on Thursday, hitting $15.70. 169,394 shares of the company were exchanged, compared to its average volume of 117,496. The firm’s fifty day moving average is $17.34 and its 200 day moving average is $17.81. First Trust Intermediate Duration Preferred & Income Fund has a fifty-two week low of $15.62 and a fifty-two week high of $19.36.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a dividend of $0.1375 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.65 annualized dividend and a dividend yield of 10.5%.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Large investors have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. increased its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 111.6% during the 4th quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock worth $22,660,000 after purchasing an additional 641,124 shares during the last quarter. Royal Bank of Canada increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 6.4% in the 1st quarter. Royal Bank of Canada now owns 739,258 shares of the company’s stock worth $13,033,000 after acquiring an additional 44,205 shares during the last quarter. Peak Planning Group LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 4th quarter valued at about $7,259,000. D.A. Davidson & CO. increased its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 0.3% in the first quarter. D.A. Davidson & CO. now owns 236,254 shares of the company’s stock worth $4,165,000 after purchasing an additional 612 shares in the last quarter. Finally, Rareview Capital LLC lifted its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 45.1% during the 2nd quarter. Rareview Capital LLC now owns 133,367 shares of the company’s stock valued at $2,510,000 after buying an additional 41,450 shares in the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) is a diversified, exchange-listed closed-end fund managed by First Trust Advisors L.P. The fund seeks to provide current income and, as a secondary objective, capital appreciation.

FPF invests primarily in preferred securities and income-producing debt instruments, including corporate bonds and other fixed-income securities. The portfolio is designed to maintain an intermediate level of interest-rate sensitivity while seeking attractive income opportunities across different segments of the preferred and fixed-income markets.

The fund may invest in securities issued by companies and other entities in the United States and international markets.