Short Interest in First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Decreases By 24.1%

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 68,500 shares, a decline of 24.1% from the February 28th total of 90,300 shares. Based on an average daily volume of 130,800 shares, the short-interest ratio is presently 0.5 days.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.4 %

FPF traded down $0.08 during midday trading on Tuesday, reaching $18.32. 99,982 shares of the company’s stock traded hands, compared to its average volume of 144,305. First Trust Intermediate Duration Preferred & Income Fund has a 52 week low of $16.50 and a 52 week high of $19.74. The firm has a fifty day moving average of $18.60 and a two-hundred day moving average of $18.70.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.1375 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $1.65 annualized dividend and a yield of 9.01%.

Hedge Funds Weigh In On First Trust Intermediate Duration Preferred & Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter valued at about $1,955,000. Ameriflex Group Inc. purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter valued at approximately $157,000. Elequin Capital LP bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter valued at approximately $48,000. Royal Bank of Canada raised its holdings in First Trust Intermediate Duration Preferred & Income Fund by 7.2% in the 4th quarter. Royal Bank of Canada now owns 754,823 shares of the company’s stock worth $13,587,000 after acquiring an additional 50,935 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in First Trust Intermediate Duration Preferred & Income Fund by 61.2% in the 4th quarter. Cetera Investment Advisers now owns 35,304 shares of the company’s stock valued at $635,000 after acquiring an additional 13,410 shares in the last quarter.

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.