First Trust Intermediate Duration Preferred & Income Fund remains a 'Hold' with attractive 8.93% yield amid rate uncertainty.

The First Trust Intermediate Duration Preferred & Income Fund (FPF) is rated as a 'Hold' due to its trading near historical discount levels and ongoing interest rate uncertainty. The fund offers an attractive monthly distribution yield of 8.93%, supported by improved net investment income coverage, though this coverage is expected to stabilize. A significant portion of the fund's distribution comes from qualified dividends, making it relatively tax-friendly. Investors should consider these factors while monitoring interest rate trends that could impact the fund's performance.