First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Shares Pass Above 50 Day Moving Average – What’s Next?

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 $18.41 and traded as high as $18.88. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.83, with a volume of 94,388 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The stock has a 50 day simple moving average of $18.41 and a two-hundred day simple moving average of $18.68.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.1375 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.65 dividend on an annualized basis and a dividend yield of 8.76%.

Hedge Funds Weigh In On First Trust Intermediate Duration Preferred & Income Fund

A number of institutional investors have recently modified their holdings of the stock. Comerica Bank raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 11.0% during the 4th quarter. Comerica Bank now owns 36,006 shares of the company’s stock valued at $648,000 after buying an additional 3,573 shares during the last quarter. Lido Advisors LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.9% during the 4th quarter. Lido Advisors LLC now owns 24,555 shares of the company’s stock valued at $445,000 after acquiring an additional 700 shares during the period. Stifel Financial Corp grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 6.9% during the 4th quarter. Stifel Financial Corp now owns 61,811 shares of the company’s stock valued at $1,113,000 after acquiring an additional 4,013 shares during the period. NewEdge Advisors LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 12.8% during the 4th quarter. NewEdge Advisors LLC now owns 32,509 shares of the company’s stock valued at $585,000 after acquiring an additional 3,679 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 19.1% during the 4th quarter. Guggenheim Capital LLC now owns 133,727 shares of the company’s stock valued at $2,407,000 after acquiring an additional 21,433 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.