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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $18.41 and traded as high as $18.88. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.83, with a volume of 94,388 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Trading Up 0.5 %

The stock has a fifty day simple moving average of $18.41 and a 200-day simple moving average of $18.68.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be given a $0.1375 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 8.76%. The ex-dividend date of this dividend is Monday, February 3rd.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter worth approximately $35,000. Ballentine Partners LLC acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth approximately $199,000. Garden State Investment Advisory Services LLC acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter worth approximately $203,000. Harmony Asset Management LLC acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter worth approximately $221,000. Finally, Sanctuary Advisors LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter valued at $227,000.

About First Trust Intermediate Duration Preferred & Income Fund

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.