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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) announced a monthly dividend on Tuesday, October 20th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.1375 per share on Monday, November 16th. This represents a $1.65 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date is Monday, November 2nd.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.0%

FPF stock traded down $0.01 during trading on Wednesday, reaching $15.69. The company’s stock had a trading volume of 42,100 shares, compared to its average volume of 132,794. The company’s fifty day moving average is $16.80 and its 200-day moving average is $17.60. First Trust Intermediate Duration Preferred & Income Fund has a 1 year low of $15.30 and a 1 year high of $19.36.

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

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in First Trust Intermediate Duration Preferred & Income Fund by 6.4% in the 1st quarter. Royal Bank of Canada now owns 739,258 shares of the company’s stock worth $13,033,000 after purchasing an additional 44,205 shares during the period. D.A. Davidson & CO. grew its holdings in First Trust Intermediate Duration Preferred & Income Fund by 0.3% during the 1st quarter. D.A. Davidson & CO. now owns 236,254 shares of the company’s stock valued at $4,165,000 after buying an additional 612 shares in the last quarter. Rareview Capital LLC raised its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 45.1% during the second quarter. Rareview Capital LLC now owns 133,367 shares of the company’s stock valued at $2,510,000 after buying an additional 41,450 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised 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 buying an additional 42,225 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.8% during the second quarter. Baird Financial Group Inc. now owns 102,354 shares of the company’s stock valued at $1,860,000 after buying an additional 2,774 shares during the last quarter.

About First Trust Intermediate Duration Preferred & Income Fund

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.