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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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