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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $18.53 and traded as low as $18.21. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.30, with a volume of 93,887 shares changing hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The business’s 50 day moving average price is $18.53 and its 200-day moving average price is $18.74.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.1375 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 9.02%. The ex-dividend date is Monday, March 3rd.

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

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 5.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,008,899 shares of the company’s stock worth $18,160,000 after purchasing an additional 55,509 shares in the last quarter. Invesco Ltd. raised its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 25.9% during the 4th quarter. Invesco Ltd. now owns 830,895 shares of the company’s stock valued at $14,956,000 after acquiring an additional 171,085 shares in the last quarter. Royal Bank of Canada lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 7.2% during the fourth quarter. Royal Bank of Canada now owns 754,823 shares of the company’s stock worth $13,587,000 after purchasing an additional 50,935 shares during the last quarter. LPL Financial LLC boosted its holdings in First Trust Intermediate Duration Preferred & Income Fund by 5.1% in the fourth quarter. LPL Financial LLC now owns 693,772 shares of the company’s stock worth $12,488,000 after purchasing an additional 33,930 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in First Trust Intermediate Duration Preferred & Income Fund by 4.3% during the fourth quarter. Ameriprise Financial Inc. now owns 234,243 shares of the company’s stock valued at $4,239,000 after purchasing an additional 9,648 shares during the last quarter.

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.