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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $16.96 and traded as low as $15.30. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $15.4250, with a volume of 1,057,115 shares changing hands.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

The firm has a 50-day simple moving average of $16.92 and a 200 day simple moving average of $17.64.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a $0.1375 dividend. The ex-dividend date was Thursday, October 1st. This represents a $1.65 dividend on an annualized basis and a dividend yield of 10.4%.

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

Several hedge funds have recently modified their holdings of FPF. Sit Investment Associates Inc. lifted its position in First Trust Intermediate Duration Preferred & Income Fund by 111.6% during the 4th quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock worth $22,660,000 after acquiring an additional 641,124 shares in the last quarter. Royal Bank of Canada boosted its holdings 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 acquiring an additional 44,205 shares during the period. D.A. Davidson & CO. grew its position in First Trust Intermediate Duration Preferred & Income Fund by 0.3% in the first quarter. D.A. Davidson & CO. now owns 236,254 shares of the company’s stock valued at $4,165,000 after acquiring an additional 612 shares in the last quarter. Rareview Capital LLC grew its position in First Trust Intermediate Duration Preferred & Income Fund by 45.1% in the second quarter. Rareview Capital LLC now owns 133,367 shares of the company’s stock valued at $2,510,000 after acquiring an additional 41,450 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in First Trust Intermediate Duration Preferred & Income Fund by 65.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 107,058 shares of the company’s stock valued at $1,945,000 after acquiring an additional 42,225 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 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.