First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Crosses Below 50 Day Moving Average – Here’s Why

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.73 and traded as low as $18.46. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.51, with a volume of 221,389 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

The stock has a 50-day moving average of $18.72 and a 200-day moving average of $18.82.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.1375 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a c) annualized dividend and a yield of 8.9%.

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

Several hedge funds have recently modified their holdings of the stock. Gridiron Partners LLC boosted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 9,427.9% in the 3rd quarter. Gridiron Partners LLC now owns 2,530,426 shares of the company’s stock valued at $509,000 after buying an additional 2,503,868 shares during the last quarter. Royal Bank of Canada lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 3.5% in the first quarter. Royal Bank of Canada now owns 781,045 shares of the company’s stock valued at $14,363,000 after acquiring an additional 26,222 shares during the last quarter. Invesco Ltd. lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 17.3% in the second quarter. Invesco Ltd. now owns 773,685 shares of the company’s stock valued at $14,561,000 after acquiring an additional 114,174 shares during the last quarter. MGO One Seven LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 1.2% in the 3rd quarter. MGO One Seven LLC now owns 411,821 shares of the company’s stock valued at $7,886,000 after acquiring an additional 4,860 shares during the period. Finally, Sit Investment Associates Inc. increased its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 276.4% during the 1st quarter. Sit Investment Associates Inc. now owns 335,240 shares of the company’s stock worth $6,165,000 after purchasing an additional 246,182 shares during the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

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.