Sterneck Capital Management LLC Has $1.10 Million Holdings in First Trust Intrmdt Drtn Prfrd & Incm Fd (FPF)

Sterneck Capital Management LLC reduced its stake in First Trust Intrmdt Drtn Prfrd & Incm Fd (NYSE:FPF) by 70.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,220 shares of the company’s stock after selling 104,207 shares during the period. Sterneck Capital Management LLC’s holdings in First Trust Intrmdt Drtn Prfrd & Incm Fd were worth $1,097,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FPF. Wells Fargo & Company MN increased its stake in First Trust Intrmdt Drtn Prfrd & Incm Fd by 5.0% in the 2nd quarter. Wells Fargo & Company MN now owns 556,018 shares of the company’s stock worth $13,795,000 after purchasing an additional 26,539 shares during the period. Ameriprise Financial Inc. increased its stake in First Trust Intrmdt Drtn Prfrd & Incm Fd by 36.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 76,003 shares of the company’s stock worth $1,889,000 after purchasing an additional 20,414 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in First Trust Intrmdt Drtn Prfrd & Incm Fd by 138.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 34,872 shares of the company’s stock worth $865,000 after purchasing an additional 20,278 shares during the period. Comerica Securities Inc. increased its stake in First Trust Intrmdt Drtn Prfrd & Incm Fd by 5.4% in the 2nd quarter. Comerica Securities Inc. now owns 325,495 shares of the company’s stock worth $8,076,000 after purchasing an additional 16,728 shares during the period. Finally, HL Financial Services LLC increased its stake in First Trust Intrmdt Drtn Prfrd & Incm Fd by 137.7% in the 2nd quarter. HL Financial Services LLC now owns 27,626 shares of the company’s stock worth $685,000 after purchasing an additional 16,004 shares during the period.

Shares of First Trust Intrmdt Drtn Prfrd & Incm Fd (NYSE:FPF) traded up 0.12% during trading on Friday, reaching $24.71. The company’s stock had a trading volume of 26,289 shares. First Trust Intrmdt Drtn Prfrd & Incm Fd has a 12-month low of $20.67 and a 12-month high of $24.95. The company has a 50 day moving average of $24.54 and a 200-day moving average of $24.28.

The firm also recently declared a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Tuesday, October 3rd will be issued a $0.1525 dividend. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $1.83 annualized dividend and a dividend yield of 7.41%.

TRADEMARK VIOLATION WARNING: This article was originally reported by Markets Daily and is the property of of Markets Daily. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://www.themarketsdaily.com/2017/10/13/sterneck-capital-management-llc-has-1-10-million-holdings-in-first-trust-intrmdt-drtn-prfrd-incm-fd-fpf.html.

About First Trust Intrmdt Drtn Prfrd & Incm Fd

First Trust Intermediate Duration Preferred & Income Fund (the Fund) is a non-diversified closed-end management investment company. The primary investment objective of the Fund is to seek a high level of current income. The Fund has a secondary objective of capital appreciation. The Fund has investments in various industry sectors, such as banks; insurance; electric utilities; food products; capital markets; diversified telecommunication services; diversified financial services; wireless telecommunication services; consumer finance; oil, gas and consumable fuels; energy equipment and services; diversified financial services; independent power producers and renewable electricity producers; equity real estate investment trusts; metals and mining; multi-utilities; industrial conglomerates; transportation infrastructure; telecommunication services, and Internet software and services.

Institutional Ownership by Quarter for First Trust Intrmdt Drtn Prfrd & Incm Fd (NYSE:FPF)

Receive News & Ratings for First Trust Intrmdt Drtn Prfrd & Incm Fd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Trust Intrmdt Drtn Prfrd & Incm Fd and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply