First Trust Intermediate Duration Preferred & Income Fund (the "Fund") is a diversified, closed-end management investment company. The primary investment objective is to seek a high level of current income. The Fund has a secondary objective of capital appreciation. The Fund seeks to achieve its objectives by investing, under normal market conditions, at least 80% of its managed assets in preferred securities and other income producing securities issued by U.S. and non-U.S. companies, including traditional preferred securities, hybrid preferred securities that have investment and economic characteristics of both preferred securities and debt securities, floating rate and fixed-to-floating rate preferred securities, debt securities, convertible securities and contingent convertible securities. The Fund seeks to maintain, under normal market conditions, a duration of between three and eight years.

Company profile
Ticker
FPF
Exchange
CEO
James Dykas
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
FUTURES PORTFOLIO FUND LP
SEC CIK
FPF stock data
Press releases
First Trust Intermediate Duration Preferred & Income Fund Declares Its Monthly Common Share Distribution of $0.1275 Per Share for August
20 Jul 22
First Trust Intermediate Duration Preferred & Income Fund Declares its Monthly Common Share Distribution of $0.1275 Per Share for July
21 Jun 22
First Trust Intermediate Duration Preferred & Income Fund Declares its Monthly Common Share Distribution of $0.1275 Per Share for June
23 May 22
Investment data
Securities sold
Number of investors
Calendar
16 May 22
12 Aug 22
31 Dec 22
Financial summary
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Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 63.91M | 63.91M | 63.91M | 63.91M | 63.91M | 63.91M |
Cash burn (monthly) | (no burn) | (no burn) | 118.52K | 121.35K | (no burn) | (no burn) |
Cash used (since last report) | n/a | n/a | 522K | 534.48K | n/a | n/a |
Cash remaining | n/a | n/a | 63.39M | 63.38M | n/a | n/a |
Runway (months of cash) | n/a | n/a | 534.9 | 522.3 | n/a | n/a |
Financial report summary
?Management Discussion
- During the 1st quarter, the Fund benefited from profitable trading in currency markets as a long USD posture benefitted from the strength in the greenback. The largest gain was from a sizable, short Yen position which tumbled to its weakest level since 2015 versus the USD and near a twenty-year low. A short position in the Euro was also a significant contributor as market participants worried about the effect that rising oil and natural gas prices would have on the European economy while the tone at the Fed became increasingly hawkish. A long position in the British Pound was the largest detractor as the currency weakened versus the USD during the quarter.
- Trading in equities was unprofitable during the quarter as losses in U.S. indices were only partially offset by gains from positions in other geographies. Overall exposure in equities was generally long biased, though position sizes were muted and, at times, was neutral to slightly short. In the U.S., the largest losses were from long E-mini S&P 500 and NASDAQ 100 positions which declined during the quarter. In Europe and Asia, persistent short exposure benefitted from the sell-off in stocks with notable gains from trading in the German DAX and the Hang Seng Indices.
- At the end of the 1st quarter, the Fund’s largest risk exposure remained in commodities, led by long energy positions. Risk exposure in agricultural markets also was significant as exposure remained long in response to strong fundamentals and rising prices. Both base and precious metals exposure was positioned long as well. Risk exposure in equities was small and positioning, while mixed, was long biased overall at the end of the period. Fixed income exposure finished the quarter short in all major regions and across all parts of the curve. In currency markets, the Fund was positioned long USD overall with notable short exposure in the Euro and Yen while emerging market currencies were long versus the USD.
Content analysis
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H.S. freshman Avg
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New words:
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Removed:
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Financial reports
Current reports
8-K
Unregistered Sales of Equity Securities
4 Apr 22
8-K
Other Events
1 Mar 22
8-K
Unregistered Sales of Equity Securities
1 Mar 22
8-K
Unregistered Sales of Equity Securities
1 Dec 21
8-K
Unregistered Sales of Equity Securities
1 Nov 21
8-K
Unregistered Sales of Equity Securities
1 Oct 21
8-K
Unregistered Sales of Equity Securities
1 Sep 21
8-K
Unregistered Sales of Equity Securities
3 Aug 21
8-K
Unregistered Sales of Equity Securities
3 May 21
8-K
Unregistered Sales of Equity Securities
1 Apr 21
Registration and prospectus
D/A
Indefinite amount in investment fund, sold $2.29B, 31238 investors
11 May 22
D/A
Indefinite amount in investment fund, sold $2.29B, 31231 investors
28 Apr 21
D/A
Indefinite amount in investment fund, sold $2.29B, 31222 investors
30 Apr 20
D/A
Indefinite amount in investment fund, sold $2.28B, 31194 investors
6 Nov 19
D/A
Indefinite amount in investment fund, sold $2.28B, 31194 investors
1 May 19
D/A
Indefinite amount in investment fund, sold $2.27B, 31143 investors
15 May 18
D/A
Indefinite amount in investment fund, sold $2.26B, 31078 investors
11 May 17
D/A
Indefinite amount in investment fund, sold $2.23B, 30833 investors
12 May 16
D/A
Indefinite amount in investment fund, sold $2.19B, 30433 investors
12 May 15
D/A
Indefinite amount in investment fund, sold $2.15B, 29833 investors
12 May 14
Proxies
No filings
Ownership
4
FUTURES PORTFOLIO FUND / Kenneth E Steben ownership change
16 Apr 19
4
FUTURES PORTFOLIO FUND / Kenneth E Steben ownership change
16 Apr 19
4/A
FUTURES PORTFOLIO FUND / CARL ANDREW SERGER ownership change
3 Dec 18
3
FUTURES PORTFOLIO FUND / FRANCINE JUDITH ROSENBERGER ownership change
16 Apr 15
3
FUTURES PORTFOLIO FUND / JOHN DOLFIN ownership change
16 Apr 15
Reddit threads
Daily Discussion Thread - August 1st, 2022
1 Aug 22
Daily Discussion Thread - July 29th, 2022
29 Jul 22
Daily Discussion Thread - July 1st, 2022
1 Jul 22
Daily Discussion Thread - June 30th, 2022
30 Jun 22
Daily Discussion Thread - June 29th, 2022
29 Jun 22
Daily Discussion Thread - June 28th, 2022
28 Jun 22
Malibu Boats (powerboats, excellent business, wrong valuation).
15 Jun 22
Daily Discussion Thread - June 1st, 2022
1 Jun 22
Daily Discussion Thread - May 31st, 2022
31 May 22
Daily Discussion Thread - May 30th, 2022
30 May 22