First Trust Intermediate Duration Preferred & Income Fund Announces Monthly Dividend of $0.14 (NYSE:FPF)

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) declared a monthly dividend on Thursday, March 19th. Stockholders of record on Wednesday, April 1st will be given a dividend of 0.1375 per share on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend is Wednesday, April 1st.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

NYSE FPF opened at $18.14 on Friday. First Trust Intermediate Duration Preferred & Income Fund has a 12 month low of $15.60 and a 12 month high of $19.75. The company’s 50-day moving average price is $18.81 and its 200-day moving average price is $18.85.

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

A number of institutional investors have recently modified their holdings of FPF. Morgan Stanley raised its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 6.0% during the fourth quarter. Morgan Stanley now owns 9,196,102 shares of the company’s stock valued at $171,415,000 after acquiring an additional 522,557 shares in the last quarter. Gridiron Partners LLC grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 9,427.9% in the third quarter. Gridiron Partners LLC now owns 2,530,426 shares of the company’s stock worth $509,000 after purchasing an additional 2,503,868 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 111.6% during the 4th quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock worth $22,660,000 after purchasing an additional 641,124 shares during the period. Wells Fargo & Company MN increased its holdings in First Trust Intermediate Duration Preferred & Income Fund by 13.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,154,534 shares of the company’s stock worth $21,521,000 after purchasing an additional 141,156 shares during the period. Finally, LPL Financial LLC raised its position in First Trust Intermediate Duration Preferred & Income Fund by 13.9% during the 4th quarter. LPL Financial LLC now owns 949,342 shares of the company’s stock valued at $17,696,000 after purchasing an additional 115,746 shares in the last quarter.

About First Trust Intermediate Duration Preferred & Income Fund

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.