First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.37 and traded as low as $18.01. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.0850, with a volume of 105,249 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The company has a 50-day moving average of $18.05 and a 200 day moving average of $18.37.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.1375 per share. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Wednesday, July 1st.

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

A number of hedge funds have recently modified their holdings of FPF. Mathes Company Inc. lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 4.3% in the 4th quarter. Mathes Company Inc. now owns 18,250 shares of the company’s stock worth $340,000 after purchasing an additional 750 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 100.8% in the fourth quarter. Global Retirement Partners LLC now owns 14,068 shares of the company’s stock valued at $262,000 after purchasing an additional 7,063 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 36.5% in the fourth quarter. International Assets Investment Management LLC now owns 23,515 shares of the company’s stock valued at $438,000 after purchasing an additional 6,284 shares in the last quarter. Rareview Capital LLC grew its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 38.0% in the fourth quarter. Rareview Capital LLC now owns 76,094 shares of the company’s stock valued at $1,432,000 after purchasing an additional 20,966 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 4.9% in the fourth quarter. D.A. Davidson & CO. now owns 235,642 shares of the company’s stock valued at $4,392,000 after purchasing an additional 11,097 shares during the last quarter.

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.