First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Shares Pass Above 200 Day Moving Average – Here’s What Happened

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.68 and traded as high as $18.88. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.83, with a volume of 94,388 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The business has a 50 day moving average of $18.41 and a 200-day moving average of $18.68.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a dividend of $0.1375 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.65 annualized dividend and a yield of 8.76%.

Hedge Funds Weigh In On First Trust Intermediate Duration Preferred & Income Fund

Institutional investors have recently made changes to their positions in the stock. Garden State Investment Advisory Services LLC purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund during the third quarter valued at about $203,000. Sanctuary Advisors LLC lifted its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 53.3% in the third quarter. Sanctuary Advisors LLC now owns 20,343 shares of the company’s stock worth $382,000 after acquiring an additional 7,077 shares in the last quarter. Harmony Asset Management LLC acquired a new stake in First Trust Intermediate Duration Preferred & Income Fund during the third quarter valued at approximately $221,000. Prospera Financial Services Inc raised its stake in First Trust Intermediate Duration Preferred & Income Fund by 3.8% during the third quarter. Prospera Financial Services Inc now owns 42,823 shares of the company’s stock valued at $836,000 after buying an additional 1,581 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 69.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 73,753 shares of the company’s stock worth $1,440,000 after purchasing an additional 30,280 shares during the period.

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.