First Trust Intermediate Duration Preferred & Income Fund
FPF
110 hedge funds and large institutions have $240M invested in First Trust Intermediate Duration Preferred & Income Fund in 2023 Q1 according to their latest regulatory filings, with 15 funds opening new positions, 29 increasing their positions, 41 reducing their positions, and 14 closing their positions.
25% more capital inflows, than outflows
Capital inflows: $30.2M | Capital outflows: $24.1M
7% more first-time investments, than exits
New positions opened: 15 | Existing positions closed: 14
0.39% more ownership
Funds ownership: 24.57% → 24.96% (+0.39%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
3% less funds holding
Funds holding: 113 → 110 (-3)
29% less repeat investments, than reductions
Existing positions increased: 29 | Existing positions reduced: 41
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$12.1M |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$7.38M |
| 3 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
+$1.64M |
| 4 |
HighTower Advisors
Chicago,
Illinois
|
+$1.42M |
| 5 |
Osaic Holdings
Scottsdale,
Arizona
|
+$943K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BI
Bramshill Investments
Naples,
Florida
|
-$6.93M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$5.79M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$2.93M |
| 4 |
PCM
Penserra Capital Management
Orinda,
California
|
-$1.08M |
| 5 |
Invesco
Atlanta,
Georgia
|
-$1.01M |
FPF Hedge Fund Activity: Q1 2023 in Review
110 of the 6,287 institutional investors tracked by Wall St. Rank reported a position in First Trust Intermediate Duration Preferred & Income Fund (FPF) for Q1 2023, worth a combined $240M — down 5% from $252M a quarter earlier.
Buyers outnumbered sellers: 15 funds opened new FPF positions and 14 closed out — a net gain of 1 holder — while 29 added to existing stakes and 41 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $12.1M. The largest seller was Bramshill Investments, cutting an estimated $6.93M.
- 110 institutional investors held First Trust Intermediate Duration Preferred & Income Fund (FPF) as of Q1 2023, down from 113 in Q4 2022.
- Funds reported $240M of First Trust Intermediate Duration Preferred & Income Fund stock for Q1 2023, down 5% quarter-over-quarter.
- 15 funds opened new First Trust Intermediate Duration Preferred & Income Fund positions in Q1 2023 and 14 closed out, a net change of +1 holder.
- The largest First Trust Intermediate Duration Preferred & Income Fund buyer in Q1 2023 was Morgan Stanley, an estimated $12.1M added.
- The largest First Trust Intermediate Duration Preferred & Income Fund seller in Q1 2023 was Bramshill Investments, an estimated $6.93M sold.
Based on aggregated 13F filings for Q1 2023.