First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Passes Above 50-Day Moving Average of $18.62

Shares of First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $18.62 and traded as high as $19.53. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $19.48, with a volume of 148,166 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Trading Up 1.0 %

The company’s 50-day moving average price is $18.62 and its 200-day moving average price is $18.02.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.1375 per share. This represents a $1.65 annualized dividend and a dividend yield of 8.47%. The ex-dividend date is Tuesday, October 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. MGO One Seven LLC grew its position in First Trust Intermediate Duration Preferred & Income Fund by 2,011.6% in the fourth quarter. MGO One Seven LLC now owns 379,688 shares of the company’s stock valued at $6,193,000 after purchasing an additional 361,707 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in First Trust Intermediate Duration Preferred & Income Fund by 8.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 208,971 shares of the company’s stock valued at $3,839,000 after purchasing an additional 16,954 shares in the last quarter. Rothschild Investment LLC bought a new position in First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at $3,773,000. Consolidated Portfolio Review Corp grew its position in First Trust Intermediate Duration Preferred & Income Fund by 2.1% in the first quarter. Consolidated Portfolio Review Corp now owns 172,380 shares of the company’s stock valued at $3,089,000 after purchasing an additional 3,469 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in First Trust Intermediate Duration Preferred & Income Fund by 7.4% in the second quarter. Envestnet Asset Management Inc. now owns 156,151 shares of the company’s stock valued at $2,868,000 after purchasing an additional 10,805 shares in the last quarter.

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.