First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Crosses Below 200-Day Moving Average – Should You Sell?

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.37 and traded as low as $18.01. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.0850, with a volume of 105,249 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The business has a 50 day moving average of $18.04 and a 200 day moving average of $18.37.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.1375 per share. This represents a c) annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend was Wednesday, July 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FPF. Morgan Stanley raised its stake in First Trust Intermediate Duration Preferred & Income Fund by 6.0% during the fourth quarter. Morgan Stanley now owns 9,196,102 shares of the company’s stock valued at $171,415,000 after purchasing an additional 522,557 shares in the last quarter. Sit Investment Associates Inc. grew its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 111.6% in the 4th quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock worth $22,660,000 after buying an additional 641,124 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 13.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,154,534 shares of the company’s stock worth $21,521,000 after buying an additional 141,156 shares during the last quarter. LPL Financial LLC increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 13.9% in the 4th quarter. LPL Financial LLC now owns 949,342 shares of the company’s stock worth $17,696,000 after buying an additional 115,746 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 17.3% during the 2nd quarter. Invesco Ltd. now owns 773,685 shares of the company’s stock valued at $14,561,000 after buying an additional 114,174 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 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.