First Trust Intermediate Duration Preferred & Income Fund
110 hedge funds and large institutions have $303M invested in First Trust Intermediate Duration Preferred & Income Fund in 2024 Q1 according to their latest regulatory filings, with 15 funds opening new positions, 41 increasing their positions, 32 reducing their positions, and 21 closing their positions.
28% more repeat investments, than reductions
Existing positions increased: 41 | Existing positions reduced: 32
7% less funds holding
Funds holding: 118 → 110 (-8)
11.07% less ownership
Funds ownership: 38.9% → 27.84% (-11%)
21% less capital invested
Capital invested by funds: $386M → $303M (-$82.8M)
29% less first-time investments, than exits
New positions opened: 15 | Existing positions closed: 21
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PI
PFG Investments
Woodbury,
New York
|
+$3.28M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$2.85M |
| 3 |
PCM
Penserra Capital Management
Orinda,
California
|
+$1.93M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$1.55M |
| 5 |
LPL Financial
San Diego,
California
|
+$742K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$113M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
-$4.5M |
| 3 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
-$2.49M |
| 4 |
Rockefeller Capital Management
New York
|
-$1.76M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$1.69M |
FPF Hedge Fund Activity: Q1 2024 in Review
110 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q1 2024, worth a combined $303M — down 21% from $386M a quarter earlier.
Sellers outnumbered buyers: 21 funds closed out of FPF and 15 opened new positions — a net loss of 6 holders — while 32 trimmed existing stakes and 41 added.
The largest buyer was PFG Investments, opening a new position worth an estimated $3.28M. The largest seller was Morgan Stanley, cutting an estimated $113M.
- 110 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q1 2024, down from 118 in Q4 2023.
- Funds reported $303M of First Trust Intermediate Duration Preferred & Income Fund stock for Q1 2024, down 21% quarter-over-quarter.
- 15 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q1 2024 and 21 closed out, a net change of -6 holders.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q1 2024 was PFG Investments, an estimated $3.28M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q1 2024 was Morgan Stanley, an estimated $113M sold.
Based on aggregated 13F filings for Q1 2024.