First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Down 70.6% in July

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 15,869 shares, a decrease of 70.6% from the June 30th total of 54,011 shares. Based on an average daily trading volume, of 87,439 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

A number of institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. lifted its holdings 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 valued at $22,660,000 after buying an additional 641,124 shares during the period. Consolidated Capital Management LLC purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter valued at $234,000. Mathes Company Inc. lifted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 4.3% in the fourth quarter. Mathes Company Inc. now owns 18,250 shares of the company’s stock valued at $340,000 after acquiring an additional 750 shares during the period. Global Retirement Partners LLC lifted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 100.8% in the fourth quarter. Global Retirement Partners LLC now owns 14,068 shares of the company’s stock valued at $262,000 after acquiring an additional 7,063 shares during the period. Finally, International Assets Investment Management LLC boosted its position in First Trust Intermediate Duration Preferred & Income Fund by 36.5% in the fourth quarter. International Assets Investment Management LLC now owns 23,515 shares of the company’s stock worth $438,000 after purchasing an additional 6,284 shares during the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

Shares of FPF opened at $17.70 on Friday. First Trust Intermediate Duration Preferred & Income Fund has a twelve month low of $17.21 and a twelve month high of $19.75. The firm has a 50 day moving average of $17.99 and a 200 day moving average of $18.33.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.1375 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, August 3rd.

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.