First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Price Crosses Below Fifty Day Moving Average – Should You 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 $18.86 and traded as low as $18.25. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.29, with a volume of 78,094 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The company’s fifty day simple moving average is $18.86 and its two-hundred day simple moving average is $18.89.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently announced 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) dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date is Monday, March 2nd.

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

Several large investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 6.0% during the 4th quarter. Morgan Stanley now owns 9,196,102 shares of the company’s stock worth $171,415,000 after purchasing an additional 522,557 shares in the last quarter. Gridiron Partners LLC raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 9,427.9% in the third quarter. Gridiron Partners LLC now owns 2,530,426 shares of the company’s stock worth $509,000 after purchasing an additional 2,503,868 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 111.6% in the fourth quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock valued at $22,660,000 after purchasing an additional 641,124 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 13.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,154,534 shares of the company’s stock valued at $21,521,000 after purchasing an additional 141,156 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 13.9% during the fourth quarter. LPL Financial LLC now owns 949,342 shares of the company’s stock valued at $17,696,000 after buying an additional 115,746 shares during 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.