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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 92,257 shares, a growth of 94.4% from the February 12th total of 47,462 shares. Based on an average trading volume of 139,335 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 139,335 shares, the days-to-cover ratio is currently 0.7 days.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter worth $48,000. CIBC Private Wealth Group LLC acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the fourth quarter valued at $49,000. Advisory Services Network LLC purchased a new position in First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at $53,000. Jones Financial Companies Lllp purchased a new position in First Trust Intermediate Duration Preferred & Income Fund in the first quarter valued at $60,000. Finally, Ameriflex Group Inc. acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter worth $100,000.

First Trust Intermediate Duration Preferred & Income Fund Stock Down 0.7%

NYSE:FPF traded down $0.13 on Thursday, reaching $18.16. 109,270 shares of the company’s stock were exchanged, compared to its average volume of 115,418. First Trust Intermediate Duration Preferred & Income Fund has a 52-week low of $15.60 and a 52-week high of $19.75. The business has a fifty day moving average of $18.85 and a 200-day moving average of $18.88.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.1375 per share. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Monday, March 2nd.

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.