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 large decrease in short interest in January. As of January 15th, there was short interest totalling 8,000 shares, a decrease of 80.0% from the December 31st total of 40,000 shares. Based on an average daily trading volume, of 146,900 shares, the short-interest ratio is currently 0.1 days.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.2 %

Shares of NYSE FPF traded down $0.05 during mid-day trading on Wednesday, reaching $18.50. The company had a trading volume of 107,762 shares, compared to its average volume of 137,298. The firm has a 50 day simple moving average of $18.41 and a two-hundred day simple moving average of $18.64. First Trust Intermediate Duration Preferred & Income Fund has a 52-week low of $16.50 and a 52-week high of $19.74.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.1375 per share. This represents a $1.65 annualized dividend and a dividend yield of 8.92%. The ex-dividend date is Monday, February 3rd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Consolidated Portfolio Review Corp boosted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.8% in the fourth quarter. Consolidated Portfolio Review Corp now owns 115,172 shares of the company’s stock valued at $2,073,000 after acquiring an additional 3,181 shares during the period. RVW Wealth LLC increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 40.5% in the 4th quarter. RVW Wealth LLC now owns 17,849 shares of the company’s stock valued at $321,000 after acquiring an additional 5,149 shares during the period. PFG Investments LLC raised its position in First Trust Intermediate Duration Preferred & Income Fund by 10.0% in the 4th quarter. PFG Investments LLC now owns 37,861 shares of the company’s stock valued at $682,000 after purchasing an additional 3,452 shares during the last quarter. Magnus Financial Group LLC raised its position in First Trust Intermediate Duration Preferred & Income Fund by 2.4% in the 4th quarter. Magnus Financial Group LLC now owns 131,773 shares of the company’s stock valued at $2,372,000 after purchasing an additional 3,127 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth $199,000.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

First Trust Intermediate Duration Preferred & Income Fund is a closed end fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Stonebridge Advisors, LLC. It invests in fixed income markets. The fund will also invest in below investment-grade securities like junk or high-yield securities.