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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a large decline in short interest during the month of 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 volume of 113,577 shares, the days-to-cover ratio is currently 0.4 days.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.5%

Shares of FPF stock opened at $17.84 on Friday. The business’s 50 day moving average is $18.71 and its two-hundred day moving average is $18.80. First Trust Intermediate Duration Preferred & Income Fund has a 12 month low of $15.60 and a 12 month high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.1375 per share. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Wednesday, April 1st.

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

Institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its stake in First Trust Intermediate Duration Preferred & Income Fund by 6.0% during the 4th quarter. Morgan Stanley now owns 9,196,102 shares of the company’s stock valued at $171,415,000 after purchasing an additional 522,557 shares during the period. Gridiron Partners LLC grew its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 9,427.9% in the third quarter. Gridiron Partners LLC now owns 2,530,426 shares of the company’s stock worth $509,000 after acquiring an additional 2,503,868 shares during the last quarter. Sit Investment Associates Inc. raised its stake in 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 purchasing an additional 641,124 shares during the last quarter. Wells Fargo & Company MN raised its stake in First Trust Intermediate Duration Preferred & Income Fund by 13.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,154,534 shares of the company’s stock valued at $21,521,000 after purchasing an additional 141,156 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 13.9% in the 4th quarter. LPL Financial LLC now owns 949,342 shares of the company’s stock valued at $17,696,000 after purchasing an additional 115,746 shares during the period.

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.