First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Price Passes Below Fifty Day Moving Average – Here’s Why

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $18.53 and traded as low as $18.21. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.30, with a volume of 93,887 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Down 0.1 %

The firm’s fifty day moving average price is $18.53 and its 200-day moving average price is $18.74.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.1375 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.65 annualized dividend and a dividend yield of 9.02%.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. boosted its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 69.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 73,753 shares of the company’s stock worth $1,440,000 after acquiring an additional 30,280 shares in the last quarter. Intellectus Partners LLC boosted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 14.3% in the 3rd quarter. Intellectus Partners LLC now owns 17,130 shares of the company’s stock valued at $335,000 after purchasing an additional 2,146 shares during the period. Prospera Financial Services Inc boosted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 3.8% in the third quarter. Prospera Financial Services Inc now owns 42,823 shares of the company’s stock worth $836,000 after buying an additional 1,581 shares during the period. Garden State Investment Advisory Services LLC purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter worth approximately $203,000. Finally, Harmony Asset Management LLC purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter worth approximately $221,000.

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.