Short Interest in First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Increases By 30.2%

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a significant growth in short interest in 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 days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 110,239 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC boosted its stake in First Trust Intermediate Duration Preferred & Income Fund by 4.9% during the 4th quarter. Kestra Advisory Services LLC now owns 32,790 shares of the company’s stock valued at $611,000 after purchasing an additional 1,542 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 3.9% in the 4th quarter. Stifel Financial Corp now owns 167,943 shares of the company’s stock worth $3,130,000 after purchasing an additional 6,315 shares in the last quarter. Morgan Stanley lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 6.0% during the fourth 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 last quarter. Peak Planning Group LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth approximately $7,259,000. Finally, Wells Fargo & Company MN grew its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 13.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,154,534 shares of the company’s stock worth $21,521,000 after acquiring an additional 141,156 shares during the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.5%

Shares of NYSE FPF opened at $19.02 on Monday. The stock’s 50-day simple moving average is $18.75 and its 200-day simple moving average is $18.89. First Trust Intermediate Duration Preferred & Income Fund has a 1 year low of $15.60 and a 1 year high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be given a dividend of $0.1375 per share. The ex-dividend date is Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 8.7%.

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.