First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Passes 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 $18.16 and traded as low as $17.86. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $17.8970, with a volume of 72,516 shares changing hands.

First Trust Intermediate Duration Preferred & Income Fund Trading Up 0.2%

The firm’s 50-day moving average is $18.17 and its two-hundred day moving average is $18.44.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.1375 per share. The ex-dividend date is Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%.

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

Several hedge funds have recently bought and sold shares of FPF. International Assets Investment Management LLC lifted its position in First Trust Intermediate Duration Preferred & Income Fund by 36.5% during the 4th quarter. International Assets Investment Management LLC now owns 23,515 shares of the company’s stock worth $438,000 after acquiring an additional 6,284 shares during the last quarter. Rareview Capital LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 38.0% in the fourth quarter. Rareview Capital LLC now owns 76,094 shares of the company’s stock valued at $1,432,000 after purchasing an additional 20,966 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 4.9% in the fourth quarter. D.A. Davidson & CO. now owns 235,642 shares of the company’s stock worth $4,392,000 after purchasing an additional 11,097 shares during the period. UBS Group AG lifted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 7.8% during the 4th quarter. UBS Group AG now owns 152,638 shares of the company’s stock worth $2,845,000 after purchasing an additional 11,077 shares during the last quarter. Finally, Shaker Financial Services LLC lifted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 42.3% during the 4th quarter. Shaker Financial Services LLC now owns 104,274 shares of the company’s stock worth $1,958,000 after purchasing an additional 31,014 shares during 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.