First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Update

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 50,585 shares, a growth of 142.9% from the July 30th total of 20,826 shares. Based on an average daily volume of 109,518 shares, the days-to-cover ratio is currently 0.5 days.

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

Several institutional investors have recently bought and sold shares of the company. Rareview Capital LLC grew its holdings in First Trust Intermediate Duration Preferred & Income Fund by 45.1% in the second quarter. Rareview Capital LLC now owns 133,367 shares of the company’s stock worth $2,510,000 after purchasing an additional 41,450 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 765.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,622 shares of the company’s stock valued at $48,000 after purchasing an additional 2,319 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter worth $1,028,000. Bank of America Corp DE acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter worth $1,724,000. Finally, Allworth Financial LP acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the 2nd quarter valued at about $47,000.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

Shares of FPF stock remained flat at $17.82 during mid-day trading on Friday. 70,141 shares of the company’s stock traded hands, compared to its average volume of 105,535. The stock’s 50-day moving average price is $17.86 and its two-hundred day moving average price is $18.14. First Trust Intermediate Duration Preferred & Income Fund has a 1-year low of $17.21 and a 1-year high of $19.75.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.1375 per share. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date is Tuesday, September 1st.

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.