First Trust Intermediate Duration Preferred & Income Fund

First Trust Intermediate Duration Preferred & Income Fund is a diversified, closed-end management investment company that focuses on generating a high level of current income, with a secondary objective of capital appreciation. The fund primarily invests in a diversified portfolio of preferred and other income-producing securities, issued by both U.S. and non-U.S. companies. Its holdings include traditional preferred stocks, hybrid preferreds, floating-rate and fixed-to-floating rate preferred securities, as well as debt, convertible, and contingent convertible securities. The fund often targets securities with intermediate duration, which can help balance yield with interest rate risk. Managed by First Trust Advisors L.P., the fund employs a strategy that includes exposure to below investment-grade, or high-yield, securities, broadening the opportunity set for enhanced income. First Trust Intermediate Duration Preferred & Income Fund plays a key role for investors seeking regular, stable monthly distributions, and it holds significance in the market as a source of diverse, income-oriented exposure beyond traditional fixed-income instruments.