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
CEO
James Dykas
Employees
Incorporated
Location
Fiscal year end
Industry
Industry (SIC)
Former names
FUTURES PORTFOLIO FUND LP
SEC CIK
Latest filings (excl ownership)
10-K
2023 FY
Annual report
28 Mar 24
8-K
Unregistered Sales of Equity Securities
2 Jan 24
10-Q
2023 Q3
Quarterly report
14 Nov 23
8-K
Unregistered Sales of Equity Securities
1 Sep 23
10-Q
2023 Q2
Quarterly report
14 Aug 23
8-K
Unregistered Sales of Equity Securities
3 Aug 23
8-K
Unregistered Sales of Equity Securities
1 Jun 23
10-Q
2023 Q1
Quarterly report
15 May 23
D/A
Indefinite amount in investment fund, sold $2.29 bn, 32704 investors
2 May 23
8-K
Unregistered Sales of Equity Securities
1 May 23
Financial summary
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Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
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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 |
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Cash on hand (at last report) | 51.20 mm | 51.20 mm | 51.20 mm | 51.20 mm | 51.20 mm | 51.20 mm |
Cash burn (monthly) | 654.73 k | 1.52 mm | 103.53 k | 110.55 k | (no burn) | 14.79 k |
Cash used (since last report) | 4.52 mm | 10.46 mm | 714.38 k | 762.79 k | n/a | 102.03 k |
Cash remaining | 46.68 mm | 40.73 mm | 50.48 mm | 50.43 mm | n/a | 51.09 mm |
Runway (months of cash) | 71.3 | 26.9 | 487.6 | 456.2 | n/a | 3455.6 |