First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) to Issue Monthly Dividend of $0.14

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) announced a monthly dividend on Monday, September 21st. Investors of record on Thursday, October 1st will be paid a dividend of 0.1375 per share on Thursday, October 15th. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date is Thursday, October 1st.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.1%

First Trust Intermediate Duration Preferred & Income Fund stock opened at $16.65 on Tuesday. First Trust Intermediate Duration Preferred & Income Fund has a 52 week low of $16.45 and a 52 week high of $19.74. The stock has a 50-day simple moving average of $17.60 and a 200 day simple moving average of $17.92.

Institutional Investors Weigh In On First Trust Intermediate Duration Preferred & Income Fund

Hedge funds have recently added to or reduced their stakes in the business. Main Street Group LTD bought a new position in First Trust Intermediate Duration Preferred & Income Fund during the first quarter worth $26,000. Ascentis Independent Advisors acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the first quarter valued at $34,000. Allworth Financial LP bought a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at about $47,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at about $48,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the 2nd 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.