First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.73 and traded as low as $17.56. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $17.7450, with a volume of 87,078 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The firm’s 50 day simple moving average is $18.55 and its 200 day simple moving average is $18.72.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

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

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

Several hedge funds have recently added to or reduced their stakes in FPF. CIBC Private Wealth Group LLC acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth about $49,000. Advisory Services Network LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter worth about $53,000. Jones Financial Companies Lllp purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the first quarter worth about $60,000. Ameriflex Group Inc. acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the third quarter worth about $100,000. Finally, Geneos Wealth Management Inc. grew its holdings in First Trust Intermediate Duration Preferred & Income Fund by 18.2% during the second quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock worth $130,000 after acquiring an additional 1,065 shares during the period.

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.