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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s share price crossed 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.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The company has a 50 day moving average of $18.41 and a 200 day moving average of $18.66.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a $0.1375 dividend. This represents a $1.65 annualized dividend and a dividend yield of 8.78%. The ex-dividend date of this dividend is Monday, February 3rd.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 4th quarter valued at about $1,750,000. Pine Valley Investments Ltd Liability Co raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 19.9% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 42,700 shares of the company’s stock valued at $774,000 after purchasing an additional 7,100 shares during the period. Principal Securities Inc. raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 8.0% in the 4th quarter. Principal Securities Inc. now owns 69,203 shares of the company’s stock valued at $1,246,000 after purchasing an additional 5,118 shares during the period. Consolidated Portfolio Review Corp raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.8% in the 4th quarter. Consolidated Portfolio Review Corp now owns 115,172 shares of the company’s stock valued at $2,073,000 after purchasing an additional 3,181 shares during the period. Finally, RVW Wealth LLC raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 40.5% in the 4th quarter. RVW Wealth LLC now owns 17,849 shares of the company’s stock valued at $321,000 after purchasing an additional 5,149 shares during the period.

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.