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

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

First Trust Intermediate Duration Preferred & Income Fund Price Performance

Shares of FPF stock traded up $0.08 on Monday, hitting $18.03. 131,523 shares of the company’s stock traded hands, compared to its average volume of 116,746. The company’s fifty day simple moving average is $18.46 and its 200 day simple moving average is $18.62. First Trust Intermediate Duration Preferred & Income Fund has a one year low of $16.50 and a one year high of $19.74.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.1375 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.65 annualized dividend and a dividend yield of 9.15%.

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

Institutional investors have recently bought and sold shares of the stock. Garden State Investment Advisory Services LLC purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter valued at $203,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the third quarter worth about $35,000. Sanctuary Advisors LLC grew its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 53.3% in the third quarter. Sanctuary Advisors LLC now owns 20,343 shares of the company’s stock worth $382,000 after purchasing an additional 7,077 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter valued at about $695,000. Finally, Jane Street Group LLC bought a new position in First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter valued at approximately $644,000.

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.