First Trust Intermediate Duration Preferred & Income Fund to Issue Monthly Dividend of $0.14 (NYSE:FPF)

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) declared a monthly dividend on Monday, April 20th. Investors of record on Friday, May 1st will be given a dividend of 0.1375 per share on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend is Friday, May 1st.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

Shares of NYSE FPF traded down $0.04 during mid-day trading on Tuesday, reaching $18.55. 30,266 shares of the company traded hands, compared to its average volume of 117,562. First Trust Intermediate Duration Preferred & Income Fund has a fifty-two week low of $17.01 and a fifty-two week high of $19.75. The stock has a fifty day simple moving average of $18.41 and a 200-day simple moving average of $18.62.

About First Trust Intermediate Duration Preferred & Income Fund

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.