First Trust Intermediate Duration Preferred & Income Fund
87 hedge funds and large institutions have $243M invested in First Trust Intermediate Duration Preferred & Income Fund in 2019 Q1 according to their latest regulatory filings, with 14 funds opening new positions, 35 increasing their positions, 22 reducing their positions, and 19 closing their positions.
59% more repeat investments, than reductions
Existing positions increased: 35 | Existing positions reduced: 22
12% more capital invested
Capital invested by funds: $217M → $243M (+$26.2M)
0.3% more ownership
Funds ownership: 17.85% → 18.15% (+0.3%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
6% less funds holding
Funds holding: 93 → 87 (-6)
26% less first-time investments, than exits
New positions opened: 14 | Existing positions closed: 19
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$20.2M |
| 2 |
VIA
Vident Investment Advisory
Alpharetta,
Georgia
|
+$9.21M |
| 3 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$1.92M |
| 4 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$1.91M |
| 5 |
Wells Fargo
San Francisco,
California
|
+$1.03M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$13.1M |
| 2 |
CRC
Curi RMB Capital
Chicago,
Illinois
|
-$3.44M |
| 3 |
OMC
Old Mission Capital
Chicago,
Illinois
|
-$2.94M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$2.75M |
| 5 |
Millennium Management
New York
|
-$2.34M |
FPF Hedge Fund Activity: Q1 2019 in Review
87 of the 4,633 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q1 2019, worth a combined $243M — up 12% from $217M a quarter earlier.
Sellers outnumbered buyers: 19 funds closed out of FPF and 14 opened new positions — a net loss of 5 holders — while 22 trimmed existing stakes and 35 added.
The largest buyer was UBS Group, adding an estimated $20.2M. The largest seller was Rivernorth Capital Management, exiting entirely with an estimated $13.1M sold.
- 87 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q1 2019, down from 93 in Q4 2018.
- Funds reported $243M of First Trust Intermediate Duration Preferred & Income Fund stock for Q1 2019, up 12% quarter-over-quarter.
- 14 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q1 2019 and 19 closed out, a net change of -5 holders.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q1 2019 was UBS Group, an estimated $20.2M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q1 2019 was Rivernorth Capital Management, an estimated $13.1M sold.
Based on aggregated 13F filings for Q1 2019.