First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Short Interest Down 80.0% in December

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 8,000 shares, a drop of 80.0% from the December 15th total of 40,000 shares. Based on an average daily volume of 146,900 shares, the short-interest ratio is currently 0.1 days.

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

Hedge funds have recently modified their holdings of the business. Prospera Financial Services Inc increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 3.8% during the 3rd quarter. Prospera Financial Services Inc now owns 42,823 shares of the company’s stock valued at $836,000 after purchasing an additional 1,581 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter worth about $35,000. Intellectus Partners LLC increased its stake in First Trust Intermediate Duration Preferred & Income Fund by 14.3% in the third quarter. Intellectus Partners LLC now owns 17,130 shares of the company’s stock valued at $335,000 after purchasing an additional 2,146 shares in the last quarter. PFG Investments LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 8.3% in the 3rd quarter. PFG Investments LLC now owns 34,409 shares of the company’s stock valued at $672,000 after purchasing an additional 2,630 shares during the period. Finally, Onyx Bridge Wealth Group LLC lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 4.6% in the third quarter. Onyx Bridge Wealth Group LLC now owns 65,391 shares of the company’s stock valued at $1,277,000 after buying an additional 2,899 shares in the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

Shares of NYSE FPF traded up $0.14 during mid-day trading on Tuesday, reaching $18.16. 105,029 shares of the company traded hands, compared to its average volume of 115,279. The company’s fifty day moving average is $18.44 and its two-hundred day moving average is $18.62. First Trust Intermediate Duration Preferred & Income Fund has a fifty-two week low of $16.50 and a fifty-two week high of $19.74.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.1375 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.65 annualized dividend and a yield of 9.09%.

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.