First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Crosses Above 50 Day Moving Average – What’s Next?

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $18.89 and traded as high as $19.30. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $19.1170, with a volume of 213,729 shares trading hands.

First Trust Intermediate Duration Preferred & Income Fund Stock Down 0.9%

The company’s fifty day simple moving average is $18.89 and its 200 day simple moving average is $18.91.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.1375 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date is Monday, March 2nd.

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

Institutional investors have recently added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC lifted its position in First Trust Intermediate Duration Preferred & Income Fund by 0.9% during the fourth quarter. Onyx Bridge Wealth Group LLC now owns 63,788 shares of the company’s stock valued at $1,189,000 after buying an additional 581 shares during the period. Mathes Company Inc. grew its position in shares of 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 buying an additional 750 shares during the period. Silver Oak Securities Incorporated increased its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 6.8% in the 3rd quarter. Silver Oak Securities Incorporated now owns 13,312 shares of the company’s stock worth $255,000 after acquiring an additional 851 shares in the last quarter. PFG Investments LLC lifted its position in First Trust Intermediate Duration Preferred & Income Fund by 2.7% during the 3rd quarter. PFG Investments LLC now owns 35,314 shares of the company’s stock valued at $676,000 after acquiring an additional 933 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in First Trust Intermediate Duration Preferred & Income Fund by 18.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock valued at $130,000 after acquiring an additional 1,065 shares during the period.

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.