First Trust Intermediate Duration Preferred & Income Fund

FPF

Market cap $1.09B

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.