First Trust Intermediate Duration Preferred & Income Fund
FPF
53 hedge funds and large institutions have $211M invested in First Trust Intermediate Duration Preferred & Income Fund in 2015 Q1 according to their latest regulatory filings, with 8 funds opening new positions, 22 increasing their positions, 16 reducing their positions, and 6 closing their positions.
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
38% more repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 16
33% more first-time investments, than exits
New positions opened: 8 | Existing positions closed: 6
4% more funds holding
Funds holding: 51 → 53 (+2)
0.3% less ownership
Funds ownership: 15.8% → 15.5% (-0.3%)
16% less capital inflows, than outflows
Capital inflows: $23.1M | Capital outflows: $27.4M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bessemer Group
Woodbridge,
New Jersey
|
+$4.25M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
+$2.46M |
| 3 |
Parametric Portfolio Associates
Seattle,
Washington
|
+$2.42M |
| 4 |
TFMS
Trust & Fiduciary Management Services
Boston,
Massachusetts
|
+$2.18M |
| 5 |
CS
Comerica Securities
Detroit,
Michigan
|
+$1.87M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Karpus Investment Management
Pittsford,
New York
|
-$15M |
| 2 |
Morgan Stanley
New York
|
-$3.54M |
| 3 |
Invesco
Atlanta,
Georgia
|
-$2.36M |
| 4 |
Guggenheim Capital
Chicago,
Illinois
|
-$2.15M |
| 5 |
FIMG
Financial & Investment Management Group
Traverse City,
Michigan
|
-$1.81M |
FPF Hedge Fund Activity: Q1 2015 in Review
53 of the 3,770 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q1 2015, worth a combined $211M — down 2.9% from $218M a quarter earlier.
Buyers outnumbered sellers: 8 funds opened new FPF positions and 6 closed out — a net gain of 2 holders — while 22 added to existing stakes and 16 trimmed.
The largest buyer was Bessemer Group, adding an estimated $4.25M. The largest seller was Karpus Investment Management, exiting entirely with an estimated $15M sold.
- 53 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q1 2015, up from 51 in Q4 2014.
- Funds reported $211M of First Trust Intermediate Duration Preferred & Income Fund stock for Q1 2015, down 2.9% quarter-over-quarter.
- 8 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q1 2015 and 6 closed out, a net change of +2 holders.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q1 2015 was Bessemer Group, an estimated $4.25M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q1 2015 was Karpus Investment Management, an estimated $15M sold.
Based on aggregated 13F filings for Q1 2015.