First Trust Intermediate Duration Preferred & Income Fund
53 hedge funds and large institutions have $212M invested in First Trust Intermediate Duration Preferred & Income Fund in 2016 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 20 increasing their positions, 17 reducing their positions, and 14 closing their positions.
18% more repeat investments, than reductions
Existing positions increased: 20 | Existing positions reduced: 17
2.01% less ownership
Funds ownership: 17.74% → 15.74% (-2%)
7% less funds holding
Funds holding: 57 → 53 (-4)
7% less capital invested
Capital invested by funds: $229M → $212M (-$16.8M)
21% less first-time investments, than exits
New positions opened: 11 | Existing positions closed: 14
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$4.12M |
| 2 |
Stifel Financial
St. Louis,
Missouri
|
+$1.69M |
| 3 |
VIA
Vident Investment Advisory
Alpharetta,
Georgia
|
+$1.42M |
| 4 |
Bank of America
Charlotte,
North Carolina
|
+$1.03M |
| 5 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
+$891K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EVM
Eaton Vance Management
Boston,
Massachusetts
|
-$8.59M |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$7.25M |
| 3 |
LCM
Laurion Capital Management
New York
|
-$4M |
| 4 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
-$3.31M |
| 5 |
Bessemer Group
Woodbridge,
New Jersey
|
-$2.15M |
FPF Hedge Fund Activity: Q1 2016 in Review
53 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q1 2016, worth a combined $212M — down 7.3% from $229M a quarter earlier.
Sellers outnumbered buyers: 14 funds closed out of FPF and 11 opened new positions — a net loss of 3 holders — while 17 trimmed existing stakes and 20 added.
The largest buyer was Bank of Montreal, opening a new position worth an estimated $4.12M. The largest seller was Eaton Vance Management, exiting entirely with an estimated $8.59M sold.
- 53 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q1 2016, down from 57 in Q4 2015.
- Funds reported $212M of First Trust Intermediate Duration Preferred & Income Fund stock for Q1 2016, down 7.3% quarter-over-quarter.
- 11 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q1 2016 and 14 closed out, a net change of -3 holders.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q1 2016 was Bank of Montreal, an estimated $4.12M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q1 2016 was Eaton Vance Management, an estimated $8.59M sold.
Based on aggregated 13F filings for Q1 2016.