First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $19.12 and traded as low as $18.85. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.87, with a volume of 156,974 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

The stock’s 50-day moving average is $19.12 and its 200 day moving average is $18.49.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be given a $0.1375 dividend. The ex-dividend date is Monday, November 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Large investors have recently made changes to their positions in the company. Allworth Financial LP bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter valued at $48,000. Jones Financial Companies Lllp bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter valued at $60,000. MassMutual Private Wealth & Trust FSB bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter valued at $72,000. Geneos Wealth Management Inc. increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 237.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,863 shares of the company’s stock worth $108,000 after purchasing an additional 4,125 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 11.5% during the 1st quarter. Spire Wealth Management now owns 9,370 shares of the company’s stock worth $172,000 after purchasing an additional 970 shares in the last quarter.

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.