In a recent transaction, Graci Angelo D, serving as an Officer-Investment Sub-Advisor, invested in shares of First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF). The purchase, which took place on April 5, 2024, involved a total expenditure of approximately $61,500.
The transaction was split into two parts, with Graci acquiring 2,000 shares at $17.56 per share and an additional 1,500 shares at $17.57 per share. These purchases reflect a price range of $17.56 to $17.57 for the shares acquired on that date.
Following these transactions, Graci's holdings in the fund increased significantly, underscoring a commitment to the fund's performance and future prospects. The First Trust Intermediate Duration Preferred & Income Fund is known for investing in a diversified portfolio of preferred and other income-producing securities, aiming to provide investors with a high level of current income.
Investors often monitor the buying and selling activities of company insiders as these transactions can provide insights into the executive's perspective on the company's value and potential. The recent purchases by Graci Angelo D may thus be seen as a positive indicator by the market and potential investors.
The investment by Graci Angelo D reflects confidence in the fund's strategy and management, potentially signaling a bullish stance on the fund's performance and the broader market segment it represents.
InvestingPro Insights
The recent investment by Graci Angelo D in First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) aligns with several notable financial metrics and market trends. With a market capitalization of $1.07 billion, FPF has been a significant player in its segment. Notably, the fund's dividend yield stands at an attractive 9.39% as of the last measurement, which is a compelling figure for income-focused investors. This aligns with one of the InvestingPro Tips that highlight FPF's significant dividend payments to shareholders, a practice it has maintained for 12 consecutive years.
The fund's price stability is another aspect worth mentioning; it generally trades with low price volatility, providing a sense of reliability for investors. Additionally, FPF is trading near its 52-week high, with a price that is 97.18% of this peak, indicating a strong performance over the past year. This is further supported by a robust six-month price total return of 29.09%, showcasing a considerable uptick in value over this period.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available that could provide further insights into FPF's investment potential. These tips can be accessed via InvestingPro's specialized platform, which includes a comprehensive set of tools and data for investors. To enhance your investment research on FPF, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
While the fund's P/E ratio is currently not applicable, which might typically raise questions about valuation, the strong dividend yield and consistent dividend payments could be seen as mitigating factors for certain investment strategies. It's also worth noting that the fund has suffered from weak gross profit margins, which is an area that investors might want to explore further to understand the long-term sustainability of the dividend payments and overall financial health of the fund.
Overall, the recent purchases by Graci Angelo D, coupled with the fund's performance and dividend yield, could signal a positive outlook for the First Trust Intermediate Duration Preferred & Income Fund, making it an interesting option for investors to consider.
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