First Trust Intermediate Duration Preferred & Income Fund (FPF) to Distribute Monthly Dividend of $0.14 on July 15th

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) declared a monthly dividend on Thursday, June 18th. Stockholders of record on Wednesday, July 1st will be given a dividend of 0.1375 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend is Wednesday, July 1st.

First Trust Intermediate Duration Preferred & Income Fund Price Performance

First Trust Intermediate Duration Preferred & Income Fund stock opened at $18.00 on Friday. The firm has a 50 day moving average price of $18.17 and a 200-day moving average price of $18.43. First Trust Intermediate Duration Preferred & Income Fund has a twelve month low of $17.21 and a twelve month high of $19.75.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the first quarter valued at $89,000. Bank of America Corp DE grew its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 11.1% during the 1st quarter. Bank of America Corp DE now owns 96,239 shares of the company’s stock worth $1,697,000 after acquiring an additional 9,639 shares during the period. Royal Bank of Canada increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 6.4% in the 1st quarter. Royal Bank of Canada now owns 739,258 shares of the company’s stock worth $13,033,000 after acquiring an additional 44,205 shares during the last quarter. Gateway Wealth Partners LLC purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter worth about $250,000. Finally, Cetera Investment Advisers raised its stake in First Trust Intermediate Duration Preferred & Income Fund by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 72,161 shares of the company’s stock valued at $1,272,000 after acquiring an additional 4,668 shares during the period.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

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.