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 decrease in short interest in the month of 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 volume of 146,900 shares, the days-to-cover ratio is presently 0.1 days.

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

Shares of NYSE:FPF traded down $0.05 during midday trading on Wednesday, reaching $18.50. 107,762 shares of the company’s stock traded hands, compared to its average volume of 137,298. First Trust Intermediate Duration Preferred & Income Fund has a one year low of $16.50 and a one year high of $19.74. The stock has a 50 day moving average of $18.41 and a 200 day moving average of $18.64.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the third quarter valued at about $35,000. Ballentine Partners LLC bought a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter valued at approximately $199,000. Garden State Investment Advisory Services LLC purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter worth approximately $203,000. Harmony Asset Management LLC purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter worth approximately $221,000. Finally, Sanctuary Advisors LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 2nd quarter worth approximately $227,000.

About First Trust Intermediate Duration Preferred & Income Fund

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.