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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 78,600 shares, a growth of 125.9% from the November 15th total of 34,800 shares. Based on an average daily trading volume, of 145,300 shares, the days-to-cover ratio is currently 0.5 days.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

FPF stock opened at $18.71 on Friday. First Trust Intermediate Duration Preferred & Income Fund has a one year low of $16.06 and a one year high of $19.74. The firm has a 50-day moving average of $18.88 and a two-hundred day moving average of $18.57.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.1375 per share. This represents a $1.65 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date is Monday, December 2nd.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Hedge funds have recently bought and sold shares of the company. PFG Investments LLC lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 8.3% during the third quarter. PFG Investments LLC now owns 34,409 shares of the company’s stock valued at $672,000 after buying an additional 2,630 shares in the last quarter. Saxony Capital Management LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter worth approximately $627,000. Sanctuary Advisors LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter worth approximately $227,000. Onyx Bridge Wealth Group LLC lifted its position in shares of 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 worth $1,277,000 after purchasing an additional 2,899 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 99.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 40,326 shares of the company’s stock worth $741,000 after purchasing an additional 20,091 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.