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First Trust Intermediate Duration Preferred & Income Fund (FPF) is a diversified, closed-end management investment company with a primary objective of offering a high level of current income to its investors. Additionally, the fund aims for capital appreciation as a secondary objective. Established under the stewardship of First Trust Advisors L.P., the fund invests in a variety of financial instruments, which include traditional preferred securities, hybrid preferred securities, floating rate, and fixed-to-floating rate preferred securities. Moreover, FPF's portfolio extends to debt securities, convertible securities, and contingent convertible securities issued by both U.S. and non-U.S. companies.
FPF's diverse investment portfolio spans several key industries such as Banks, Insurance, Capital Markets, Electric Utilities, Oil, Gas & Consumable Fuels, and Food Products. This diversification strategy is designed to balance risk and potential returns, providing a stable income stream for investors. The fund is committed to maintaining a disciplined approach to investing, adhering to core principles such as re-balancing, tax control, and long-term investment strategies.
First Trust Advisors L.P., the fund manager, was founded in 1991 with a mission to offer reliable investment products and advisory services. They focus on helping financial advisors and their clients define goals, solve investment challenges, and develop sustainable long-term strategies. The fund's management team is dedicated to delivering superior products, services, and results that contribute to client prosperity.
Recent achievements for FPF include maintaining robust performance metrics and expanding its portfolio to include high-quality securities across various sectors. Current projects involve further diversification and exploring new opportunities to enhance income and capital appreciation prospects. The fund’s disciplined investment approach and commitment to re-balancing ensure that it remains a resilient option for investors seeking consistent income and growth potential.
FPF's transparency and commitment to providing original ideas and inventive products make it a trusted choice for investors. The fund continues to thrive on its principles, such as knowing what you own and investing for the long term, ensuring it remains a viable investment option for years to come.
First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) has announced its monthly common share distribution of $0.1375 per share for December, payable on December 16, 2024, to shareholders of record as of December 2, 2024. Based on the November 19, 2024 NAV of $19.59, the distribution rate is 8.42%, while based on the closing market price of $18.61, it's 8.87%.
The Fund seeks to provide high current income and capital appreciation by investing in preferred and income-producing securities. Under normal conditions, it invests at least 80% of Managed Assets in preferred and income-producing securities from U.S. and non-U.S. companies. First Trust Advisors manages approximately $245 billion in assets as of October 31, 2024.
First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) has declared its monthly common share distribution of $0.1375 per share for November, payable on November 15, 2024, to shareholders of record as of November 1, 2024. The distribution rate is 8.26% based on the October 18, 2024 NAV of $19.98, and 8.53% based on the closing market price of $19.35.
The Fund seeks to provide a high level of current income and capital appreciation by investing in preferred and other income-producing securities. It is managed by First Trust Advisors L.P. (FTA) and sub-advised by Stonebridge Advisors FTA has approximately $245 billion in assets under management, while Stonebridge manages about $12.9 billion as of September 30, 2024.
Investors should be aware of various risks, including market risk, interest rate risk, and sector concentration in financials. The Fund uses leverage, which can magnify losses.
First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) has declared its monthly common share distribution of $0.1375 per share for October 2024.
Shareholders of record as of October 1, 2024, will receive the payment on October 15, 2024. The ex-dividend date is also October 1, 2024.
The distribution rate based on the NAV of $19.88 as of September 18, 2024, is 8.30%, and 8.66% based on the closing market price of $19.06.
The distribution will primarily come from net investment income, with potential contributions from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all 2024 distributions will be provided on Form 1099-DIV after the end of 2024.
The Fund aims to provide a high level of current income and capital appreciation by investing in preferred and other income-producing securities. It maintains a diversified portfolio with at least 80% of Managed Assets in such securities under normal market conditions.
First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) has declared its monthly common share distribution of $0.1375 per share for September, payable on September 16, 2024, to shareholders of record as of September 3, 2024. The ex-dividend date is expected to be September 3, 2024. Based on the August 19, 2024 NAV of $19.39, the distribution rate is 8.51%, and based on the closing market price of $18.52, it's 8.91%.
The Fund seeks to provide a high level of current income and capital appreciation by investing in preferred and other income-producing securities. It's managed by First Trust Advisors L.P. and sub-advised by Stonebridge Advisors The Fund maintains a practice of seeking relatively stable monthly distributions, which may be changed periodically.
First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) has declared its monthly common share distribution of $0.1375 per share for August, payable on August 15, 2024, to shareholders of record as of August 1, 2024. The distribution rate is 8.56% based on the July 19, 2024 NAV of $19.27, and 9.13% based on the closing market price of $18.07.
The Fund seeks to provide a high level of current income and capital appreciation by investing in preferred and income-producing securities. It is managed by First Trust Advisors L.P. and sub-advised by Stonebridge Advisors The Fund's assets under management were approximately $228 billion as of June 30, 2024.
Investors should be aware of risks including market fluctuations, interest rate changes, and sector concentration in financials. The Fund uses leverage, which can magnify losses.
First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) has announced its monthly common share distribution of $0.1375 per share for July 2024, payable on July 15, 2024, to shareholders of record as of July 1, 2024. The ex-dividend date is July 1, 2024. The distribution rate is 8.66% based on the June 18, 2024 NAV of $19.05 and 9.18% based on the closing market price of $17.98. The majority of the distribution is expected to come from net investment income, with potential contributions from net short-term realized capital gains or return of capital. The Fund aims to provide stable monthly distributions, which may impact its NAV but not its investment strategy. As of May 31, 2024, the Fund's advisor, First Trust Advisors L.P., manages approximately $226 billion in assets, and its sub-advisor, Stonebridge Advisors , manages about $12 billion. The Fund invests at least 80% of its assets in preferred and other income-producing securities.
First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) has announced its monthly common share distribution of $0.1375 per share for June 2024. The distribution will be paid on June 17, 2024, to shareholders of record as of June 3, 2024. The ex-dividend date is also June 3, 2024. Based on the NAV of $19.05 on May 17, 2024, the distribution rate is 8.66%, and based on the closing market price of $17.92, it is 9.21%. The majority of this distribution will come from the Fund’s net investment income. The Fund is a diversified, closed-end management investment company, primarily investing in preferred and other income-producing securities. Managed by First Trust Advisors, the Fund aims to provide a high level of current income and has a secondary objective of capital appreciation.
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