Closed-End Fund Offers High Income Potential

The First Trust Intermediate Duration Preferred & Income Fund (FPF) is a closed-end fund that seeks to earn a high level of current income for investors. The banking sector exposure could be a short-term risk for the fund. The fund's strategy is designed to provide a stable income stream for investors while also offering some potential for capital appreciation. FPF invests in a diversified portfolio of preferred securities, including preferred stocks, preferred shares, and other preferred securities. The fund's management team has experience in the financial industry, which could be beneficial in navigating market fluctuations. Overall, FPF is a suitable option for investors seeking high current income and diversification in their portfolios.