First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Passes Above 50 Day Moving Average – What’s Next?

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $17.71 and traded as high as $18.13. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.08, with a volume of 128,698 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.3%

The firm has a 50 day moving average price of $17.71 and a two-hundred day moving average price of $18.26.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $0.1375 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.65 dividend on an annualized basis and a yield of 9.13%.

Institutional Investors Weigh In On First Trust Intermediate Duration Preferred & Income Fund

Several institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 5.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,008,899 shares of the company’s stock valued at $18,160,000 after acquiring an additional 55,509 shares during the period. Invesco Ltd. increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 25.9% in the 4th quarter. Invesco Ltd. now owns 830,895 shares of the company’s stock valued at $14,956,000 after purchasing an additional 171,085 shares in the last quarter. Royal Bank of Canada raised its position in First Trust Intermediate Duration Preferred & Income Fund by 3.5% in the first quarter. Royal Bank of Canada now owns 781,045 shares of the company’s stock valued at $14,363,000 after purchasing an additional 26,222 shares during the period. LPL Financial LLC lifted its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 7.7% during the first quarter. LPL Financial LLC now owns 746,943 shares of the company’s stock worth $13,736,000 after purchasing an additional 53,171 shares in the last quarter. Finally, MGO One Seven LLC lifted its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 23.5% during the first quarter. MGO One Seven LLC now owns 388,512 shares of the company’s stock worth $7,145,000 after purchasing an additional 73,993 shares in the last quarter.

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.