First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Sees Significant Increase in Short Interest

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 50,448 shares, a growth of 30.2% from the January 15th total of 38,744 shares. Based on an average trading volume of 110,239 shares, the short-interest ratio is presently 0.5 days. Based on an average trading volume of 110,239 shares, the short-interest ratio is presently 0.5 days.

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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the second quarter valued at about $48,000. CIBC Private Wealth Group LLC purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter valued at about $49,000. Advisory Services Network LLC bought a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter valued at approximately $53,000. Jones Financial Companies Lllp purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter worth approximately $60,000. Finally, Ameriflex Group Inc. purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter worth approximately $100,000.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.4%

NYSE FPF opened at $19.13 on Wednesday. The company has a 50-day moving average price of $18.77 and a 200-day moving average price of $18.89. First Trust Intermediate Duration Preferred & Income Fund has a 52 week low of $15.60 and a 52 week high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a dividend of $0.1375 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 8.6%.

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.