First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Announces $0.14 Monthly Dividend

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) declared a monthly dividend on Thursday, August 20th. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.1375 per share on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date is Tuesday, September 1st.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

First Trust Intermediate Duration Preferred & Income Fund stock opened at $17.67 on Friday. First Trust Intermediate Duration Preferred & Income Fund has a 1-year low of $17.21 and a 1-year high of $19.75. The firm has a 50 day simple moving average of $17.88 and a 200-day simple moving average of $18.18.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Onyx Bridge Wealth Group LLC increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 0.9% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 63,788 shares of the company’s stock valued at $1,189,000 after purchasing an additional 581 shares during the last quarter. D.A. Davidson & CO. raised its position in First Trust Intermediate Duration Preferred & Income Fund by 0.3% in the 1st quarter. D.A. Davidson & CO. now owns 236,254 shares of the company’s stock valued at $4,165,000 after purchasing an additional 612 shares in the last quarter. Mathes Company Inc. raised its holdings in First Trust Intermediate Duration Preferred & Income Fund by 4.3% in the fourth quarter. Mathes Company Inc. now owns 18,250 shares of the company’s stock valued at $340,000 after acquiring an additional 750 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 18.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock worth $130,000 after purchasing an additional 1,065 shares during the last quarter. Finally, PFG Investments LLC raised its stake in First Trust Intermediate Duration Preferred & Income Fund by 2.7% in the first quarter. PFG Investments LLC now owns 41,112 shares of the company’s stock valued at $725,000 after buying an additional 1,094 shares in the last quarter.

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.