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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw 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 Price Performance

Shares of FPF stock traded down $0.16 during trading hours on Monday, reaching $16.87. The company had a trading volume of 137,290 shares, compared to its average volume of 107,143. First Trust Intermediate Duration Preferred & Income Fund has a twelve month low of $16.80 and a twelve month high of $19.75. The stock’s fifty day simple moving average is $17.75 and its 200 day simple moving average is $18.02.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.1375 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a c) annualized dividend and a yield of 9.8%.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

A number of hedge funds have recently made changes to their positions in the company. Main Street Group LTD acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 1st quarter valued at $26,000. Ascentis Independent Advisors acquired a new position in First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter worth $34,000. Allworth Financial LP acquired a new position in First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter worth $47,000. Northwestern Mutual Wealth Management Co. purchased a new position in First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter valued at about $48,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter valued at about $49,000.

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.