First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Down 70.6% in July

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 15,869 shares, a drop of 70.6% from the June 30th total of 54,011 shares. Based on an average trading volume of 87,439 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.0%

First Trust Intermediate Duration Preferred & Income Fund stock traded up $0.01 on Tuesday, reaching $17.68. 54,449 shares of the stock were exchanged, compared to its average volume of 106,562. First Trust Intermediate Duration Preferred & Income Fund has a twelve month low of $17.21 and a twelve month high of $19.75. The firm has a fifty day moving average price of $17.98 and a two-hundred day moving average price of $18.32.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a dividend of $0.1375 per share. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, August 3rd.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Main Street Group LTD bought a new position in First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter worth approximately $26,000. Ascentis Independent Advisors acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the first quarter worth $34,000. CIBC Private Wealth Group LLC bought a new position in First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth $49,000. Advisory Services Network LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter valued at $53,000. Finally, Allied Private Wealth LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the 2nd quarter valued at $60,000.

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.