First Trust Intermediate Duration Preferred & Income Fund
FPF
60 hedge funds and large institutions have $204M invested in First Trust Intermediate Duration Preferred & Income Fund in 2016 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 28 increasing their positions, 10 reducing their positions, and 6 closing their positions.
180% more repeat investments, than reductions
Existing positions increased: 28 | Existing positions reduced: 10
83% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 6
7% more funds holding
Funds holding: 56 → 60 (+4)
0.65% less ownership
Funds ownership: 15.06% → 14.41% (-0.65%)
28% less capital inflows, than outflows
Capital inflows: $22.3M | Capital outflows: $31M
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$5.76M |
| 2 |
NMC
Nine Masts Capital
Central,
Hong Kong
|
+$3.36M |
| 3 |
Guggenheim Capital
Chicago,
Illinois
|
+$3.17M |
| 4 |
Bessemer Group
Woodbridge,
New Jersey
|
+$2.22M |
| 5 |
Wells Fargo
San Francisco,
California
|
+$1.87M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MGAM
McGowan Group Asset Management
Dallas,
Texas
|
-$22.8M |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$3.73M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
-$1.71M |
| 4 |
SCM
Sterneck Capital Management
Kansas City,
Missouri
|
-$1.14M |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$400K |
FPF Hedge Fund Activity: Q3 2016 in Review
60 of the 3,759 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q3 2016, worth a combined $204M — down 5.3% from $215M a quarter earlier.
Buyers outnumbered sellers: 11 funds opened new FPF positions and 6 closed out — a net gain of 5 holders — while 28 added to existing stakes and 10 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $5.76M. The largest seller was McGowan Group Asset Management, exiting entirely with an estimated $22.8M sold.
- 60 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q3 2016, up from 56 in Q2 2016.
- Funds reported $204M of First Trust Intermediate Duration Preferred & Income Fund stock for Q3 2016, down 5.3% quarter-over-quarter.
- 11 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q3 2016 and 6 closed out, a net change of +5 holders.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q3 2016 was Morgan Stanley, an estimated $5.76M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q3 2016 was McGowan Group Asset Management, an estimated $22.8M sold.
Based on aggregated 13F filings for Q3 2016.