First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Passes Below 50 Day Moving Average of $17.51

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $17.51 and traded as low as $16.60. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $16.65, with a volume of 223,361 shares changing hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.8 %

The company’s fifty day moving average price is $17.50 and its two-hundred day moving average price is $16.33.

First Trust Intermediate Duration Preferred & Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were issued a dividend of $0.1375 per share. This represents a $1.65 annualized dividend and a yield of 9.76%. The ex-dividend date of this dividend was Monday, April 1st.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at $496,000. D.A. Davidson & CO. lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 4.7% in the third quarter. D.A. Davidson & CO. now owns 107,368 shares of the company’s stock valued at $1,600,000 after acquiring an additional 4,851 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at $418,000. Landscape Capital Management L.L.C. lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 117.6% in the third quarter. Landscape Capital Management L.L.C. now owns 28,999 shares of the company’s stock valued at $432,000 after acquiring an additional 15,673 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 28.0% in the third quarter. Raymond James & Associates now owns 73,109 shares of the company’s stock valued at $1,089,000 after acquiring an additional 15,986 shares during 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.