First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Shares Cross Below 50 Day Moving Average – What’s Next?

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $18.51 and traded as low as $15.60. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $16.45, with a volume of 365,812 shares changing hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Down 3.5 %

The business’s fifty day moving average is $18.51 and its two-hundred day moving average is $18.65.

First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.1375 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $1.65 dividend on an annualized basis and a yield of 10.03%.

Hedge Funds Weigh In On First Trust Intermediate Duration Preferred & Income Fund

Several large investors have recently bought and sold shares of the business. Lido Advisors LLC increased its stake in First Trust Intermediate Duration Preferred & Income Fund by 2.9% in the fourth quarter. Lido Advisors LLC now owns 24,555 shares of the company’s stock valued at $445,000 after purchasing an additional 700 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 5.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 18,334 shares of the company’s stock worth $330,000 after purchasing an additional 920 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter worth about $35,000. Elequin Capital LP acquired a new position in First Trust Intermediate Duration Preferred & Income Fund during the fourth quarter valued at approximately $48,000. Finally, Magnus Financial Group LLC boosted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.4% in the 4th quarter. Magnus Financial Group LLC now owns 131,773 shares of the company’s stock valued at $2,372,000 after buying an additional 3,127 shares during the last quarter.

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.