First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $18.41 and traded as high as $18.84. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.80, with a volume of 70,627 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

The business’s 50 day simple moving average is $18.41 and its 200 day simple moving average is $18.66.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a dividend of $0.1375 per share. This represents a $1.65 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date of this dividend is Monday, February 3rd.

Institutional Investors Weigh In On First Trust Intermediate Duration Preferred & Income Fund

Several hedge funds have recently added to or reduced their stakes in FPF. Independent Advisor Alliance bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth approximately $266,000. Raymond James Financial Inc. acquired a new position in First Trust Intermediate Duration Preferred & Income Fund in the 4th quarter valued at $1,750,000. Pine Valley Investments Ltd Liability Co increased its position in First Trust Intermediate Duration Preferred & Income Fund by 19.9% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 42,700 shares of the company’s stock worth $774,000 after buying an additional 7,100 shares during the period. Principal Securities Inc. lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 8.0% during the fourth quarter. Principal Securities Inc. now owns 69,203 shares of the company’s stock worth $1,246,000 after buying an additional 5,118 shares in the last quarter. Finally, Consolidated Portfolio Review Corp boosted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.8% in the fourth quarter. Consolidated Portfolio Review Corp now owns 115,172 shares of the company’s stock valued at $2,073,000 after acquiring an additional 3,181 shares during the period.

About First Trust Intermediate Duration Preferred & Income Fund

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.