First Trust Intermediate Duration Preferred & Income Fund (FPF) to Issue Monthly Dividend of $0.14 on July 15th

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) declared a monthly dividend on Thursday, June 18th. Investors of record on Wednesday, July 1st will be given a dividend of 0.1375 per share on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Wednesday, July 1st.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.1%

Shares of FPF opened at $18.04 on Monday. First Trust Intermediate Duration Preferred & Income Fund has a 1-year low of $17.21 and a 1-year high of $19.75. The company has a 50-day moving average of $18.14 and a 200 day moving average of $18.41.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter worth $89,000. Bank of America Corp DE grew its holdings in First Trust Intermediate Duration Preferred & Income Fund by 11.1% during the 1st quarter. Bank of America Corp DE now owns 96,239 shares of the company’s stock worth $1,697,000 after acquiring an additional 9,639 shares in the last quarter. Royal Bank of Canada increased its position in First Trust Intermediate Duration Preferred & Income Fund by 6.4% during the 1st quarter. Royal Bank of Canada now owns 739,258 shares of the company’s stock valued at $13,033,000 after purchasing an additional 44,205 shares during the period. Gateway Wealth Partners LLC bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter valued at about $250,000. Finally, Cetera Investment Advisers lifted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 72,161 shares of the company’s stock worth $1,272,000 after purchasing an additional 4,668 shares during the period.

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.