First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Crosses Below 50-Day Moving Average – Here’s Why

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $17.19 and traded as low as $15.68. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $15.8160, with a volume of 374,246 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The firm has a 50-day moving average of $17.11 and a 200-day moving average of $17.71.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $0.1375 dividend. This represents a $1.65 annualized dividend and a yield of 10.5%. The ex-dividend date is Thursday, October 1st.

Institutional Investors 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. Sit Investment Associates Inc. lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 111.6% in the fourth quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock worth $22,660,000 after buying an additional 641,124 shares in the last quarter. Royal Bank of Canada increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 6.4% in the 1st quarter. Royal Bank of Canada now owns 739,258 shares of the company’s stock valued at $13,033,000 after acquiring an additional 44,205 shares during the last quarter. Peak Planning Group LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 4th quarter valued at $7,259,000. D.A. Davidson & CO. lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 0.3% in the 1st quarter. D.A. Davidson & CO. now owns 236,254 shares of the company’s stock worth $4,165,000 after purchasing an additional 612 shares in the last quarter. Finally, Rareview Capital LLC lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 45.1% in the 2nd quarter. Rareview Capital LLC now owns 133,367 shares of the company’s stock worth $2,510,000 after purchasing an additional 41,450 shares in the last quarter.

About First Trust Intermediate Duration Preferred & Income Fund

First Trust Intermediate Duration Preferred & Income Fund (NYSE: FPF) is a diversified, exchange-listed closed-end fund managed by First Trust Advisors L.P. The fund seeks to provide current income and, as a secondary objective, capital appreciation.

FPF invests primarily in preferred securities and income-producing debt instruments, including corporate bonds and other fixed-income securities. The portfolio is designed to maintain an intermediate level of interest-rate sensitivity while seeking attractive income opportunities across different segments of the preferred and fixed-income markets.

The fund may invest in securities issued by companies and other entities in the United States and international markets.