Short Interest in First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Expands By 109.9%

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 106,186 shares, a growth of 109.9% from the August 15th total of 50,585 shares. Based on an average daily trading volume, of 89,382 shares, the short-interest ratio is presently 1.2 days.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

Shares of First Trust Intermediate Duration Preferred & Income Fund stock opened at $16.74 on Wednesday. The business has a 50 day moving average of $17.69 and a 200 day moving average of $17.98. First Trust Intermediate Duration Preferred & Income Fund has a 52 week low of $16.45 and a 52 week high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.1375 per share. This represents a c) dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend was Tuesday, September 1st.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sit Investment Associates Inc. increased its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 111.6% during the fourth quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock valued at $22,660,000 after buying an additional 641,124 shares during the period. Royal Bank of Canada lifted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 6.4% in the first quarter. Royal Bank of Canada now owns 739,258 shares of the company’s stock worth $13,033,000 after buying an additional 44,205 shares during the period. Peak Planning Group LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter valued at approximately $7,259,000. D.A. Davidson & CO. boosted its position in First Trust Intermediate Duration Preferred & Income Fund by 0.3% during the 1st quarter. D.A. Davidson & CO. now owns 236,254 shares of the company’s stock valued at $4,165,000 after acquiring an additional 612 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 7.8% during the 4th quarter. UBS Group AG now owns 152,638 shares of the company’s stock worth $2,845,000 after acquiring an additional 11,077 shares during the period.

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.