First Trust Intermediate Duration Preferred & Income Fund
44 hedge funds and large institutions have $141M invested in First Trust Intermediate Duration Preferred & Income Fund in 2014 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 16 increasing their positions, 14 reducing their positions, and 2 closing their positions.
250% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 2
14% more repeat investments, than reductions
Existing positions increased: 16 | Existing positions reduced: 14
13% more funds holding
Funds holding: 39 → 44 (+5)
2% less capital invested
Capital invested by funds: $144M → $141M (-$3.1M)
1.44% less ownership
Funds ownership: 11.91% → 10.46% (-1.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$10.8M |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$3.38M |
| 3 |
Wells Fargo
San Francisco,
California
|
+$2.37M |
| 4 |
MIG
Mariner Investment Group
Harrison,
New York
|
+$942K |
| 5 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$773K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PRCM
Pine River Capital Management
Minnetonka,
Minnesota
|
-$12.9M |
| 2 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$10.8M |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$4.21M |
| 4 |
CFN
Cordasco Financial Network
Naples,
Florida
|
-$1.16M |
| 5 |
PAS
Partnervest Advisory Services
Santa Barbara,
California
|
-$632K |
FPF Hedge Fund Activity: Q1 2014 in Review
44 of the 3,475 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q1 2014, worth a combined $141M — down 2.2% from $144M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new FPF positions and 2 closed out — a net gain of 5 holders — while 16 added to existing stakes and 14 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $10.8M. The largest seller was Pine River Capital Management, exiting entirely with an estimated $12.9M sold.
- 44 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q1 2014, up from 39 in Q4 2013.
- Funds reported $141M of First Trust Intermediate Duration Preferred & Income Fund stock for Q1 2014, down 2.2% quarter-over-quarter.
- 7 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q1 2014 and 2 closed out, a net change of +5 holders.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q1 2014 was Morgan Stanley, an estimated $10.8M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q1 2014 was Pine River Capital Management, an estimated $12.9M sold.
Based on aggregated 13F filings for Q1 2014.