First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Down 70.6% in July

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 15,869 shares, a drop of 70.6% from the June 30th total of 54,011 shares. Based on an average daily volume of 87,439 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On First Trust Intermediate Duration Preferred & Income Fund

A number of hedge funds have recently bought and sold shares of the company. Main Street Group LTD acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 1st quarter worth about $26,000. Ascentis Independent Advisors acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter valued at approximately $34,000. CIBC Private Wealth Group LLC bought a new position in First Trust Intermediate Duration Preferred & Income Fund in the 4th quarter worth approximately $49,000. Advisory Services Network LLC bought a new position in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter worth approximately $53,000. Finally, Allied Private Wealth LLC acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the second quarter worth approximately $60,000.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.4%

Shares of NYSE:FPF traded down $0.07 during trading on Monday, reaching $17.66. The stock had a trading volume of 99,306 shares, compared to its average volume of 106,957. The stock has a fifty day simple moving average of $17.98 and a two-hundred day simple moving average of $18.32. First Trust Intermediate Duration Preferred & Income Fund has a 52 week low of $17.21 and a 52 week high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.1375 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a c) dividend on an annualized basis and a yield of 9.3%.

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.