First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Passes Above Fifty Day Moving Average of $17.48

Shares of First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $17.48 and traded as high as $17.70. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $17.58, with a volume of 122,530 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.3 %

The firm has a fifty day simple moving average of $17.48 and a 200-day simple moving average of $16.64.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be paid a dividend of $0.1375 per share. This represents a $1.65 annualized dividend and a dividend yield of 9.39%. The ex-dividend date is Wednesday, May 1st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC lifted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 83.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,650 shares of the company’s stock valued at $25,000 after buying an additional 750 shares during the period. Larson Financial Group LLC increased its stake in First Trust Intermediate Duration Preferred & Income Fund by 223.0% during the 1st quarter. Larson Financial Group LLC now owns 2,180 shares of the company’s stock worth $39,000 after purchasing an additional 1,505 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 1st quarter worth approximately $118,000. PNC Financial Services Group Inc. lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 16.7% in the third quarter. PNC Financial Services Group Inc. now owns 7,000 shares of the company’s stock valued at $104,000 after buying an additional 1,000 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the fourth quarter valued at approximately $172,000.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

First Trust Intermediate Duration Preferred & Income Fund is a closed end fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Stonebridge Advisors, LLC. It invests in fixed income markets. The fund will also invest in below investment-grade securities like junk or high-yield securities.