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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $18.13 and traded as low as $17.71. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $17.79, with a volume of 92,159 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.4%

The stock has a fifty day moving average of $18.13 and a 200 day moving average of $18.47.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.1375 per share. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Monday, June 1st.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Several hedge funds have recently made changes to their positions in FPF. Jones Financial Companies Lllp bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the first quarter valued at $60,000. Invesco Ltd. raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 17.3% in the second quarter. Invesco Ltd. now owns 773,685 shares of the company’s stock valued at $14,561,000 after buying an additional 114,174 shares during the period. NewEdge Advisors LLC raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 59.3% in the second quarter. NewEdge Advisors LLC now owns 94,040 shares of the company’s stock valued at $1,770,000 after buying an additional 35,004 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 18.2% in the second quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock valued at $130,000 after buying an additional 1,065 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at $307,000.

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.