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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.81 and traded as low as $18.12. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.1350, with a volume of 95,205 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.8%

The firm has a fifty day moving average of $18.81 and a 200-day moving average of $18.85.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.1375 per share. This represents a c) annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend was Monday, March 2nd.

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

Large investors have recently added to or reduced their stakes in the business. Gridiron Partners LLC increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 9,427.9% during the 3rd quarter. Gridiron Partners LLC now owns 2,530,426 shares of the company’s stock valued at $509,000 after acquiring an additional 2,503,868 shares in the last quarter. Sit Investment Associates Inc. grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 111.6% in the fourth quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock valued at $22,660,000 after purchasing an additional 641,124 shares during the last quarter. Morgan Stanley grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 6.0% in the fourth quarter. Morgan Stanley now owns 9,196,102 shares of the company’s stock valued at $171,415,000 after purchasing an additional 522,557 shares during the last quarter. Peak Planning Group LLC purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth approximately $7,259,000. Finally, Wells Fargo & Company MN increased its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 13.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,154,534 shares of the company’s stock worth $21,521,000 after purchasing an additional 141,156 shares in the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

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.