Mcgowan Group Asset Management Lowers stake in First Trust Intrmdt Drtn Prfrd & Incm Fd (FPF)

First Trust Intrmdt Drtn Prfrd & Incm Fd (FPF) : Mcgowan Group Asset Management reduced its stake in First Trust Intrmdt Drtn Prfrd & Incm Fd by 0.16% during the most recent quarter end. The investment management company now holds a total of 1,144,811 shares of First Trust Intrmdt Drtn Prfrd & Incm Fd which is valued at $26.3 Million after selling 1,874 shares in First Trust Intrmdt Drtn Prfrd & Incm Fd , the firm said in a disclosure report filed with the SEC on May 13, 2016.First Trust Intrmdt Drtn Prfrd & Incm Fd makes up approximately 4.09% of Mcgowan Group Asset Management’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp sold out all of its stake in FPF during the most recent quarter. The investment firm sold 12,964 shares of FPF which is valued $298,042.Baird Financial Group boosted its stake in FPF in the latest quarter, The investment management firm added 5,650 additional shares and now holds a total of 40,253 shares of First Trust Intrmdt Drtn Prfrd & Incm Fd which is valued at $925,416. First Trust Intrmdt Drtn Prfrd & Incm Fd makes up approx 0.01% of Baird Financial Group’s portfolio.Bessemer Group Inc reduced its stake in FPF by selling 100,000 shares or 14.6% in the most recent quarter. The Hedge Fund company now holds 585,000 shares of FPF which is valued at $13.4 Million. First Trust Intrmdt Drtn Prfrd & Incm Fd makes up approx 0.08% of Bessemer Group Inc’s portfolio. Relative Value Partners Group sold out all of its stake in FPF during the most recent quarter. The investment firm sold 69,186 shares of FPF which is valued $1.6 Million.Ifp Advisors Inc boosted its stake in FPF in the latest quarter, The investment management firm added 35,404 additional shares and now holds a total of 60,584 shares of First Trust Intrmdt Drtn Prfrd & Incm Fd which is valued at $1.4 Million. First Trust Intrmdt Drtn Prfrd & Incm Fd makes up approx 0.08% of Ifp Advisors Inc’s portfolio.

First Trust Intermediate Duration Preferred & Income Fund (the Fund) is a newly organized non-diversified closed-end management investment company. The Fund’s primary investment objective is to seek a high level of current income. The Fund has a secondary objective of capital appreciation. The Fund will invest at least 80% of its managed assets in a portfolio of preferred and other income-producing securities issued by United States and non-United States Companies. The Fund also will invest at least 25% of its Managed Assets in the group of industries that are part of the financials sector as classified under the Global Industry Classification Standards developed by MSCI Inc. and Standard & Poor’s. First Trust Advisors L.P. is the investment advisor and Stonebridge Advisors LLC is the Fund’s sub-advisor.

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First Trust Intrmdt Drtn Prfrd & Incm Fd - Is it time to Sell?

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