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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totaling 14,834 shares, a decline of 22.3% from the November 30th total of 19,092 shares. Based on an average daily trading volume, of 183,489 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 183,489 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FPF. Advisory Services Network LLC bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at about $53,000. Susquehanna International Group LLP acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter worth about $349,000. Millennium Management LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the third quarter valued at approximately $266,000. Lido Advisors LLC grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 41.8% in the third quarter. Lido Advisors LLC now owns 33,855 shares of the company’s stock valued at $648,000 after purchasing an additional 9,972 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter worth approximately $298,000.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

FPF traded down $0.03 during trading on Tuesday, reaching $18.76. 224,049 shares of the stock traded hands, compared to its average volume of 136,879. The stock’s 50-day simple moving average is $18.70 and its two-hundred day simple moving average is $18.86. First Trust Intermediate Duration Preferred & Income Fund has a fifty-two week low of $15.60 and a fifty-two week high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.1375 dividend. The ex-dividend date is Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 8.8%.

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.