First Trust Intermediate Duration Preferred & Income Fund: First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) was established on May 23, 2013. It is registered in the United States and is a closed fixed fund initiated and managed by First Trust Advisors LP Income Mutual Fund , which is jointly managed by Stonebridge Advisors, LLC.
First Trust Intermediate Duration Preferred & Income Fund (FPF):
First Trust Medium Term Priority and Income Fund (hereinafter referred to as the “fund”) is a non-diversified closed-end management investment company. The main investment goal is to seek a high level of current income. The secondary objective of the fund is capital appreciation. The First Trust Medium Duration Preferential Income Fund invests in the fixed income market. The fund will also invest in securities below investment grade, such as junk securities or high-yield securities.
The fund invests at least 80% of its assets under management in preferred securities and other income-generating securities issued by U.S. and non-U.S. companies under normal market conditions, including investment and economic characteristics of traditional preferred securities, preferred securities and debt securities, floating interest rates and Preferred securities, debt securities, convertible securities and contingent convertible securities fixed to floating interest rates. The fund strives to maintain a maturity of three to eight years under normal market conditions.