Short Interest in First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Increases By 142.9%

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 50,585 shares, a growth of 142.9% from the July 30th total of 20,826 shares. Based on an average daily volume of 109,518 shares, the short-interest ratio is presently 0.5 days.

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

Institutional investors have recently bought and sold shares of the business. Main Street Group LTD purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the first quarter worth $26,000. Ascentis Independent Advisors acquired a new position in First Trust Intermediate Duration Preferred & Income Fund in the first quarter valued at approximately $34,000. Allworth Financial LP purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter worth approximately $47,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the 2nd quarter worth approximately $48,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth $49,000.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

Shares of First Trust Intermediate Duration Preferred & Income Fund stock remained flat at $17.82 during trading on Friday. The stock had a trading volume of 70,141 shares, compared to its average volume of 105,535. The company has a fifty day moving average price of $17.86 and a 200-day moving average price of $18.14. First Trust Intermediate Duration Preferred & Income Fund has a 52-week low of $17.21 and a 52-week high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.1375 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%.

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.