First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Shares Pass Above Fifty Day Moving Average of $17.48

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $17.48 and traded as high as $17.70. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $17.58, with a volume of 122,530 shares changing hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The business has a 50-day moving average price of $17.48 and a 200 day moving average price of $16.64.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be issued a dividend of $0.1375 per share. This represents a $1.65 annualized dividend and a dividend yield of 9.39%. The ex-dividend date of this dividend is Wednesday, May 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 0.8% during the third quarter. Park Avenue Securities LLC now owns 91,739 shares of the company’s stock valued at $1,367,000 after acquiring an additional 743 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in First Trust Intermediate Duration Preferred & Income Fund by 83.3% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,650 shares of the company’s stock valued at $25,000 after purchasing an additional 750 shares during the period. Capital Investment Advisors LLC lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.3% in the fourth quarter. Capital Investment Advisors LLC now owns 38,641 shares of the company’s stock valued at $630,000 after purchasing an additional 879 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 16.7% in the third quarter. PNC Financial Services Group Inc. now owns 7,000 shares of the company’s stock valued at $104,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 3.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 36,204 shares of the company’s stock worth $593,000 after buying an additional 1,181 shares during the period.

About First Trust Intermediate Duration Preferred & Income Fund

First Trust Intermediate Duration Preferred & Income Fund is a closed end fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Stonebridge Advisors, LLC. It invests in fixed income markets. The fund will also invest in below investment-grade securities like junk or high-yield securities.