First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $18.86 and traded as low as $18.25. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.29, with a volume of 78,094 shares.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

The stock has a fifty day moving average of $18.84 and a 200 day moving average of $18.88.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.1375 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 9.1%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 2nd quarter worth approximately $48,000. CIBC Private Wealth Group LLC bought a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the fourth quarter worth approximately $49,000. Advisory Services Network LLC bought a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter worth approximately $53,000. Jones Financial Companies Lllp purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the first quarter worth $60,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter worth $100,000.

About First Trust Intermediate Duration Preferred & Income Fund

First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) is a diversified closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund aims to deliver a consistent distribution by investing primarily in intermediate-duration preferred securities issued by U.S. and foreign corporations, financial institutions and utilities.

The fund’s portfolio is composed predominantly of fixed- and floating-rate preferred stocks, with at least 80% of its total assets invested in such securities.