First Trust Intermediate Duration Preferred & Income Fund
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.
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)
5% less capital invested
Capital invested by funds: $252M → $240M (-$12.5M)
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 6,283 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.