First Trust Intermediate Duration Preferred & Income Fund
93 hedge funds and large institutions have $217M invested in First Trust Intermediate Duration Preferred & Income Fund in 2018 Q4 according to their latest regulatory filings, with 25 funds opening new positions, 27 increasing their positions, 28 reducing their positions, and 21 closing their positions.
19% more first-time investments, than exits
New positions opened: 25 | Existing positions closed: 21
2% more funds holding
Funds holding: 91 → 93 (+2)
1.23% more ownership
Funds ownership: 16.62% → 17.85% (+1.2%)
1% less capital invested
Capital invested by funds: $220M → $217M (-$2.85M)
4% less repeat investments, than reductions
Existing positions increased: 27 | Existing positions reduced: 28
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$13.2M |
| 2 |
Stifel Financial
St. Louis,
Missouri
|
+$4.76M |
| 3 |
OMC
Old Mission Capital
Chicago,
Illinois
|
+$2.98M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$2.88M |
| 5 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$2.63M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$8.91M |
| 2 |
CS
Comerica Securities
Detroit,
Michigan
|
-$7.21M |
| 3 |
Bessemer Group
Woodbridge,
New Jersey
|
-$2.25M |
| 4 |
NMC
Nine Masts Capital
Central,
Hong Kong
|
-$1.95M |
| 5 |
IA
IFP Advisors
Tampa,
Florida
|
-$895K |
FPF Hedge Fund Activity: Q4 2018 in Review
93 of the 4,505 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q4 2018, worth a combined $217M — down 1.3% from $220M a quarter earlier.
Buyers outnumbered sellers: 25 funds opened new FPF positions and 21 closed out — a net gain of 4 holders — while 27 added to existing stakes and 28 trimmed.
The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $13.2M. The largest seller was Morgan Stanley, cutting an estimated $8.91M.
- 93 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q4 2018, up from 91 in Q3 2018.
- Funds reported $217M of First Trust Intermediate Duration Preferred & Income Fund stock for Q4 2018, down 1.3% quarter-over-quarter.
- 25 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q4 2018 and 21 closed out, a net change of +4 holders.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q4 2018 was Rivernorth Capital Management, an estimated $13.2M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q4 2018 was Morgan Stanley, an estimated $8.91M sold.
Based on aggregated 13F filings for Q4 2018.