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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.41 and traded as high as $18.84. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.80, with a volume of 70,627 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The firm’s 50-day moving average price is $18.41 and its 200 day moving average price is $18.66.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.1375 per share. This represents a $1.65 annualized dividend and a dividend yield of 8.82%. The ex-dividend date of this dividend is Monday, February 3rd.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FPF. International Assets Investment Management LLC grew its holdings in First Trust Intermediate Duration Preferred & Income Fund by 1,279.9% during the third quarter. International Assets Investment Management LLC now owns 187,763 shares of the company’s stock valued at $3,667,000 after purchasing an additional 174,156 shares during the period. Magnus Financial Group LLC increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.4% in the fourth quarter. Magnus Financial Group LLC now owns 131,773 shares of the company’s stock worth $2,372,000 after acquiring an additional 3,127 shares in the last quarter. Shaker Financial Services LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 22.6% in the 3rd quarter. Shaker Financial Services LLC now owns 116,642 shares of the company’s stock valued at $2,278,000 after purchasing an additional 21,500 shares during the period. Consolidated Portfolio Review Corp grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.8% in the 4th quarter. Consolidated Portfolio Review Corp now owns 115,172 shares of the company’s stock valued at $2,073,000 after purchasing an additional 3,181 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth approximately $1,750,000.

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.