First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Breaks Below Fifty Day Moving Average – Time to Sell?

Shares of First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $16.96 and traded as low as $15.30. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $15.4250, with a volume of 1,057,115 shares.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 2.0%

The business’s fifty day simple moving average is $16.96 and its 200-day simple moving average is $17.65.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a dividend of $0.1375 per share. This represents a $1.65 annualized dividend and a yield of 10.7%. The ex-dividend date is Thursday, October 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FPF. Sit Investment Associates Inc. raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 111.6% during the fourth quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock worth $22,660,000 after acquiring an additional 641,124 shares in the last quarter. Bank of America Corp DE purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter worth approximately $1,724,000. Centaurus Financial Inc. bought a new stake in First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at $1,028,000. Royal Bank of Canada boosted its position in First Trust Intermediate Duration Preferred & Income Fund by 6.4% during the 1st quarter. Royal Bank of Canada now owns 739,258 shares of the company’s stock valued at $13,033,000 after acquiring an additional 44,205 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 65.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 107,058 shares of the company’s stock valued at $1,945,000 after purchasing an additional 42,225 shares in the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) is a closed-end investment company managed by First Trust Advisors L.P. The fund is designed to provide investors with current income and, as a secondary objective, capital appreciation.

FPF invests primarily in preferred securities and income-producing debt securities, including securities issued by corporations and financial institutions. Its portfolio is managed with an intermediate-duration approach, which seeks to balance income generation with sensitivity to changes in interest rates.

The fund may invest in securities issued by companies in the United States and other countries, providing exposure to multiple sectors and geographies.