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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a significant growth in short interest in 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 daily volume of 139,335 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 139,335 shares, the days-to-cover ratio is currently 0.7 days.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

Shares of FPF remained flat at $18.15 during mid-day trading on Friday. 98,467 shares of the company’s stock were exchanged, compared to its average volume of 115,071. The business’s 50 day moving average price is $18.84 and its two-hundred day moving average price is $18.88. First Trust Intermediate Duration Preferred & Income Fund has a fifty-two week low of $15.60 and a fifty-two week high of $19.75.

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

A number of institutional investors have recently bought and sold shares of FPF. Allworth Financial LP purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at about $48,000. CIBC Private Wealth Group LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth about $49,000. Advisory Services Network LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter valued at approximately $53,000. Jones Financial Companies Lllp bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 1st quarter valued at approximately $60,000. Finally, Ameriflex Group Inc. purchased a new position in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter worth approximately $100,000.

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.