First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $18.73 and traded as high as $18.99. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.97, with a volume of 89,048 shares.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

The business has a 50-day moving average price of $18.73 and a 200 day moving average price of $18.89.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be issued a $0.1375 dividend. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Monday, February 2nd.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter worth about $48,000. Advisory Services Network LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter valued at about $53,000. Jones Financial Companies Lllp purchased a new position in First Trust Intermediate Duration Preferred & Income Fund in the first quarter worth about $60,000. Ameriflex Group Inc. bought a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter worth approximately $100,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 18.2% in the second quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock worth $130,000 after buying an additional 1,065 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.