First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $18.11 and traded as low as $18.10. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.25, with a volume of 97,043 shares changing hands.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

The stock has a 50-day moving average of $18.11 and a 200-day moving average of $18.52.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.1375 dividend. This represents a c) dividend on an annualized basis and a yield of 9.0%. The ex-dividend date is Monday, June 1st.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

A number of large investors have recently modified their holdings of the business. Morgan Stanley grew its holdings in shares of 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 worth $171,415,000 after purchasing an additional 522,557 shares in the last quarter. Sit Investment Associates Inc. grew its stake in 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 grew its stake in 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 in 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. increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 17.3% in the 2nd quarter. Invesco Ltd. now owns 773,685 shares of the company’s stock worth $14,561,000 after buying an additional 114,174 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.