First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Price Passes Below 50 Day Moving Average of $17.51

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $17.51 and traded as low as $16.60. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $16.65, with a volume of 223,361 shares.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 2.1 %

The firm’s 50-day simple moving average is $17.51 and its two-hundred day simple moving average is $16.32.

First Trust Intermediate Duration Preferred & Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.1375 per share. The ex-dividend date was Monday, April 1st. This represents a $1.65 annualized dividend and a yield of 9.91%.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 83.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,650 shares of the company’s stock valued at $25,000 after purchasing an additional 750 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at about $45,000. PNC Financial Services Group Inc. lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 500.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,000 shares of the company’s stock valued at $93,000 after purchasing an additional 5,000 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 333.6% in the fourth quarter. Citigroup Inc. now owns 8,252 shares of the company’s stock valued at $139,000 after purchasing an additional 6,349 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the fourth quarter valued at about $172,000.

About First Trust Intermediate Duration Preferred & Income Fund

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.