First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Up 116.1% in May

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 44,166 shares, an increase of 116.1% from the April 30th total of 20,436 shares. Based on an average trading volume of 90,092 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC bought a new position in First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter valued at $89,000. Bank of America Corp DE boosted its position in First Trust Intermediate Duration Preferred & Income Fund by 11.1% in the 1st quarter. Bank of America Corp DE now owns 96,239 shares of the company’s stock valued at $1,697,000 after buying an additional 9,639 shares during the last quarter. Royal Bank of Canada boosted its position in First Trust Intermediate Duration Preferred & Income Fund by 6.4% in the 1st quarter. Royal Bank of Canada now owns 739,258 shares of the company’s stock valued at $13,033,000 after buying an additional 44,205 shares during the last quarter. Gateway Wealth Partners LLC bought a new position in First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter valued at $250,000. Finally, Cetera Investment Advisers boosted its position in First Trust Intermediate Duration Preferred & Income Fund by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 72,161 shares of the company’s stock valued at $1,272,000 after buying an additional 4,668 shares during the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.5%

NYSE FPF traded up $0.10 during trading hours on Friday, reaching $18.31. 105,361 shares of the company’s stock were exchanged, compared to its average volume of 111,136. First Trust Intermediate Duration Preferred & Income Fund has a one year low of $17.21 and a one year high of $19.75. The firm has a fifty day moving average of $18.11 and a 200-day moving average of $18.52.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.1375 dividend. This represents a c) dividend on an annualized basis and a yield of 9.0%. The ex-dividend date is Monday, June 1st.

About First Trust Intermediate Duration Preferred & Income Fund

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.