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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 8,000 shares, a drop of 80.0% from the December 15th total of 40,000 shares. Based on an average daily trading volume, of 146,900 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

Shares of FPF traded up $0.08 during trading hours on Monday, reaching $18.03. The stock had a trading volume of 131,523 shares, compared to its average volume of 116,746. The firm has a 50-day simple moving average of $18.46 and a 200 day simple moving average of $18.62. First Trust Intermediate Duration Preferred & Income Fund has a 12 month low of $16.50 and a 12 month high of $19.74.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.1375 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.65 annualized dividend and a yield of 9.15%.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Several institutional investors have recently made changes to their positions in the company. Prospera Financial Services Inc grew its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 3.8% during the third quarter. Prospera Financial Services Inc now owns 42,823 shares of the company’s stock worth $836,000 after purchasing an additional 1,581 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the third quarter valued at approximately $35,000. Intellectus Partners LLC lifted its position in First Trust Intermediate Duration Preferred & Income Fund by 14.3% during the third quarter. Intellectus Partners LLC now owns 17,130 shares of the company’s stock valued at $335,000 after purchasing an additional 2,146 shares during the last quarter. PFG Investments LLC grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 8.3% in the 3rd quarter. PFG Investments LLC now owns 34,409 shares of the company’s stock worth $672,000 after buying an additional 2,630 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 4.6% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 65,391 shares of the company’s stock worth $1,277,000 after buying an additional 2,899 shares during the last quarter.

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.