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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.95 and traded as high as $19.49. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $19.34, with a volume of 74,265 shares changing hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.1 %

The company’s fifty day moving average price is $19.00 and its two-hundred day moving average price is $18.18.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.1375 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 8.53%. The ex-dividend date was Tuesday, October 1st.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC lifted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 223.0% in the first quarter. Larson Financial Group LLC now owns 2,180 shares of the company’s stock worth $39,000 after purchasing an additional 1,505 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter valued at $46,000. Register Financial Advisors LLC bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 1st quarter worth about $118,000. Nomura Holdings Inc. acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth about $172,000. Finally, Sanctuary Advisors LLC bought a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the 2nd quarter valued at about $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.