First Trust Intermediate Duration Preferred & Income Fund
FPF
84 hedge funds and large institutions have $229M invested in First Trust Intermediate Duration Preferred & Income Fund in 2018 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 34 increasing their positions, 26 reducing their positions, and 11 closing their positions.
31% more repeat investments, than reductions
Existing positions increased: 34 | Existing positions reduced: 26
1.8% less ownership
Funds ownership: 17.79% → 15.98% (-1.8%)
2% less funds holding
Funds holding: 86 → 84 (-2)
18% less first-time investments, than exits
New positions opened: 9 | Existing positions closed: 11
51% less capital inflows, than outflows
Capital inflows: $25.6M | Capital outflows: $51.9M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
+$4.15M |
| 2 |
CIA
Capital Investment Advisors
Atlanta,
Georgia
|
+$3.07M |
| 3 |
Wells Fargo
San Francisco,
California
|
+$3.02M |
| 4 |
SCM
Sterneck Capital Management
Kansas City,
Missouri
|
+$2.51M |
| 5 |
Bessemer Group
Woodbridge,
New Jersey
|
+$2.36M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$21M |
| 2 |
VIA
Vident Investment Advisory
Alpharetta,
Georgia
|
-$8.73M |
| 3 |
Bank of Montreal
Toronto,
Ontario, Canada
|
-$5.88M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$3.7M |
| 5 |
Morgan Stanley
New York
|
-$2.08M |
FPF Hedge Fund Activity: Q1 2018 in Review
84 of the 4,374 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q1 2018, worth a combined $229M — down 14% from $265M a quarter earlier.
Sellers outnumbered buyers: 11 funds closed out of FPF and 9 opened new positions — a net loss of 2 holders — while 26 trimmed existing stakes and 34 added.
The largest buyer was LPL Financial, adding an estimated $4.15M. The largest seller was UBS Group, cutting an estimated $21M.
- 84 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q1 2018, down from 86 in Q4 2017.
- Funds reported $229M of First Trust Intermediate Duration Preferred & Income Fund stock for Q1 2018, down 14% quarter-over-quarter.
- 9 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q1 2018 and 11 closed out, a net change of -2 holders.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q1 2018 was LPL Financial, an estimated $4.15M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q1 2018 was UBS Group, an estimated $21M sold.
Based on aggregated 13F filings for Q1 2018.