First Trust Intermediate Duration Preferred & Income Fund
FPF
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- James M. Dykas
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 120 East Liberty Drive Wheaton IL United States of America 60187
- IPO Date
- May 24, 2013
- CIK
- 0001567569
- Website
- ftportfolios.com
- Similar Companies
- Business
- First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) is a diversified, closed-end management investment company focused on seeking a high level of current income with a secondary objective of capital appreciation. Launched and managed by First Trust Advisors L.P. and co-managed by Stonebridge Advisors, LLC, the fund invests at least 80% of its managed assets in a portfolio of preferred and other income-producing securities issued by U.S. and non-U.S. companies, including traditional preferred securities; hybrid preferred securities with characteristics of both preferreds and debt; floating-rate and fixed-to-floating rate preferred securities; debt securities; convertible securities; and contingent convertible securities (CoCos). The portfolio emphasizes intermediate duration preferred securities with exposure to below investment-grade, high-yield, or junk securities, concentrating in the financials sector while targeting issuers across various industries; it is domiciled in the United States, headquartered at 120 East Liberty Drive, Suite 400, Wheaton, Illinois 60187, and was formed on May 23, 2013. The fund trades on the New York Stock Exchange under the ticker FPF and employs leverage to enhance returns, subjecting it to associated risks including interest rate fluctuations, credit risk heightened by high-yield holdings, call risk, and sector-specific vulnerabilities in financials such as regulatory changes and loan concentrations. Geographically, it operates with a global scope through investments in U.S. and foreign securities, exposing it to currency, economic, and political risks in non-U.S. markets. First Trust Advisors L.P., the parent advisor, oversees approximately $304 billion in assets under management or supervision as of late 2025 across exchange-traded funds, closed-end funds, mutual funds, and other products. In recent developments, the fund has maintained its consistent monthly common share distribution at $0.1375 per share, with the latest declaration for December 2025 payable on December 15 to shareholders of record as of December 1, yielding approximately 8.36% based on November 2025 NAV and 8.87% on closing market price; this follows a dividend increase from prior levels like $0.1075 in 2023, reflecting stable payout policy primarily from net investment income, potentially supplemented by short-term capital gains or return of capital. No major acquisitions, funding rounds, partnerships, or strategic shifts specific to FPF were reported in 2024-2025, though First Trust Advisors announced reorganizations and liquidations of other unrelated funds, such as the First Trust/Confluence Small Cap Value Fund in December 2025 and proposed shifts for specialty finance products earlier in the year. The fund filed its most recent semi-annual report (N-CSRS) on July 9, 2025, and monthly portfolio reports through June 2025, confirming ongoing operations without significant structural changes.