First Trust Intermediate Duration Preferred & Income Fund
51 hedge funds and large institutions have $161M invested in First Trust Intermediate Duration Preferred & Income Fund in 2014 Q2 according to their latest regulatory filings, with 14 funds opening new positions, 17 increasing their positions, 11 reducing their positions, and 7 closing their positions.
100% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 7
55% more repeat investments, than reductions
Existing positions increased: 17 | Existing positions reduced: 11
16% more funds holding
Funds holding: 44 → 51 (+7)
15% more capital invested
Capital invested by funds: $141M → $161M (+$20.4M)
1.14% more ownership
Funds ownership: 10.46% → 11.6% (+1.1%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$10.1M |
| 2 |
EML
Eos Management LP
New York
|
+$4.45M |
| 3 |
JP Morgan Chase
New York
|
+$3.74M |
| 4 |
Bank of America
Charlotte,
North Carolina
|
+$2.08M |
| 5 |
Wells Fargo
San Francisco,
California
|
+$1.71M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$6.38M |
| 2 |
MIG
Mariner Investment Group
Harrison,
New York
|
-$3.61M |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$2.15M |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$1.07M |
| 5 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
-$765K |
FPF Hedge Fund Activity: Q2 2014 in Review
51 of the 3,491 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q2 2014, worth a combined $161M — up 15% from $141M a quarter earlier.
Buyers outnumbered sellers: 14 funds opened new FPF positions and 7 closed out — a net gain of 7 holders — while 17 added to existing stakes and 11 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $10.1M. The largest seller was Saba Capital Management, exiting entirely with an estimated $6.38M sold.
- 51 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q2 2014, up from 44 in Q1 2014.
- Funds reported $161M of First Trust Intermediate Duration Preferred & Income Fund stock for Q2 2014, up 15% quarter-over-quarter.
- 14 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q2 2014 and 7 closed out, a net change of +7 holders.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q2 2014 was Morgan Stanley, an estimated $10.1M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q2 2014 was Saba Capital Management, an estimated $6.38M sold.
Based on aggregated 13F filings for Q2 2014.