First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Passes Above 200-Day Moving Average – What’s Next?

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.68 and traded as high as $18.88. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $18.83, with a volume of 94,388 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.5 %

The firm’s 50 day simple moving average is $18.41 and its 200-day simple moving average is $18.68.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a $0.1375 dividend. The ex-dividend date is Monday, February 3rd. This represents a $1.65 annualized dividend and a yield of 8.76%.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at about $35,000. Ballentine Partners LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the fourth quarter valued at about $199,000. Garden State Investment Advisory Services LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at about $203,000. Harmony Asset Management LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the third quarter valued at about $221,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at about $227,000.

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.