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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 92,257 shares, a growth of 94.4% from the February 12th total of 47,462 shares. Based on an average trading volume of 139,335 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 139,335 shares, the days-to-cover ratio is currently 0.7 days.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.7%

Shares of NYSE:FPF traded down $0.13 during trading hours on Thursday, reaching $18.16. The stock had a trading volume of 109,270 shares, compared to its average volume of 115,418. First Trust Intermediate Duration Preferred & Income Fund has a 1 year low of $15.60 and a 1 year high of $19.75. The firm’s 50 day moving average is $18.85 and its 200-day moving average is $18.88.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.1375 per share. The ex-dividend date is Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Onyx Bridge Wealth Group LLC raised its stake in First Trust Intermediate Duration Preferred & Income Fund by 0.9% during the 4th quarter. Onyx Bridge Wealth Group LLC now owns 63,788 shares of the company’s stock valued at $1,189,000 after acquiring an additional 581 shares during the last quarter. Mathes Company Inc. lifted its position in First Trust Intermediate Duration Preferred & Income Fund by 4.3% during the 4th quarter. Mathes Company Inc. now owns 18,250 shares of the company’s stock worth $340,000 after acquiring an additional 750 shares during the period. Silver Oak Securities Incorporated grew its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 6.8% in the 3rd quarter. Silver Oak Securities Incorporated now owns 13,312 shares of the company’s stock valued at $255,000 after purchasing an additional 851 shares during the last quarter. PFG Investments LLC increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.7% in the third quarter. PFG Investments LLC now owns 35,314 shares of the company’s stock valued at $676,000 after purchasing an additional 933 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 18.2% in the second quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock valued at $130,000 after purchasing an additional 1,065 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.