First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $18.89 and traded as high as $19.30. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $19.1170, with a volume of 213,729 shares.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

The business has a fifty day moving average of $18.89 and a 200 day moving average of $18.91.

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. Investors of record on Monday, March 2nd will be issued a $0.1375 dividend. This represents a c) annualized dividend and a yield of 8.6%. The ex-dividend date is Monday, March 2nd.

Institutional Investors Weigh In On First Trust Intermediate Duration Preferred & Income Fund

A number of institutional investors have recently made changes to their positions in FPF. Magnus Financial Group LLC boosted its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 52.4% in the third quarter. Magnus Financial Group LLC now owns 49,160 shares of the company’s stock valued at $941,000 after purchasing an additional 16,912 shares during the period. MGO One Seven LLC increased its stake in First Trust Intermediate Duration Preferred & Income Fund by 1.2% during the 3rd quarter. MGO One Seven LLC now owns 411,821 shares of the company’s stock worth $7,886,000 after buying an additional 4,860 shares during the period. Ethos Financial Group LLC lifted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 15.7% during the 3rd quarter. Ethos Financial Group LLC now owns 37,971 shares of the company’s stock worth $727,000 after buying an additional 5,143 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 55.1% during the 3rd quarter. D.A. Davidson & CO. now owns 224,545 shares of the company’s stock worth $4,300,000 after buying an additional 79,734 shares in the last quarter. Finally, Saxony Capital Management LLC boosted its position in First Trust Intermediate Duration Preferred & Income Fund by 4.1% in the 3rd quarter. Saxony Capital Management LLC now owns 27,950 shares of the company’s stock valued at $535,000 after buying an additional 1,100 shares during the period.

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.