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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $18.46 and traded as high as $18.81. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.77, with a volume of 88,244 shares trading hands.

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

The stock’s fifty day simple moving average is $18.48 and its 200 day simple moving average is $18.73.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.1375 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.65 annualized dividend and a dividend yield of 8.79%.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter worth $35,000. Elequin Capital LP acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth about $48,000. Ameriflex Group Inc. purchased a new position in First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth about $157,000. Ballentine Partners LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund in the 4th quarter valued at about $199,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter valued at about $203,000.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

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.