First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Up 116.1% in May

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 44,166 shares, a growth of 116.1% from the April 30th total of 20,436 shares. Based on an average trading volume of 90,092 shares, the days-to-cover ratio is presently 0.5 days.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 1.4%

Shares of NYSE:FPF traded down $0.26 on Monday, reaching $18.05. The company had a trading volume of 179,956 shares, compared to its average volume of 111,803. First Trust Intermediate Duration Preferred & Income Fund has a 52-week low of $17.21 and a 52-week high of $19.75. The firm’s 50 day simple moving average is $18.11 and its 200-day simple moving average is $18.51.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.1375 dividend. The ex-dividend date is Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Main Street Group LTD purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter valued at $26,000. Ascentis Independent Advisors purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter valued at $34,000. CIBC Private Wealth Group LLC purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the 4th quarter valued at $49,000. Advisory Services Network LLC purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter valued at $53,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter valued at $60,000.

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.