First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Passes Below 50 Day Moving Average – Should You Sell?

Shares of First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $18.16 and traded as low as $17.86. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $17.8970, with a volume of 72,516 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

The company’s 50 day moving average is $18.16 and its 200 day moving average is $18.44.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.1375 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a c) annualized dividend and a yield of 9.2%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FPF. Main Street Group LTD acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the first quarter worth about $26,000. Ascentis Independent Advisors acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the first quarter worth about $34,000. CIBC Private Wealth Group LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter worth about $49,000. Advisory Services Network LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the third quarter worth about $53,000. Finally, Jones Financial Companies Lllp acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the first quarter worth about $60,000.

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.