First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Down 24.1% in March

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 68,500 shares, a drop of 24.1% from the February 28th total of 90,300 shares. Based on an average daily trading volume, of 130,800 shares, the short-interest ratio is presently 0.5 days.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

NYSE:FPF opened at $18.32 on Wednesday. The stock’s fifty day moving average is $18.60 and its two-hundred day moving average is $18.70. First Trust Intermediate Duration Preferred & Income Fund has a 52 week low of $16.50 and a 52 week high of $19.74.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.1375 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 9.01%. The ex-dividend date of this dividend is Tuesday, April 1st.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter valued at approximately $35,000. Elequin Capital LP acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth $48,000. Ameriflex Group Inc. purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 4th quarter valued at about $157,000. Ballentine Partners LLC purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth approximately $199,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at $203,000.

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.