First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Share Price Passes Below 50 Day Moving Average – Should You Sell?

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF – Get Free Report) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $18.16 and traded as low as $17.86. First Trust Intermediate Duration Preferred & Income Fund shares last traded at $17.8970, with a volume of 72,516 shares traded.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.3%

The company’s 50-day moving average price is $18.16 and its 200-day moving average price is $18.44.

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First Trust Intermediate Duration Preferred & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.1375 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend was Monday, June 1st.

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

Large investors have recently modified their holdings of the stock. Sit Investment Associates Inc. boosted its holdings in shares of 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 buying an additional 641,124 shares during the period. Morgan Stanley boosted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 6.0% during the 4th quarter. Morgan Stanley now owns 9,196,102 shares of the company’s stock worth $171,415,000 after buying an additional 522,557 shares during the period. Peak Planning Group LLC bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter worth about $7,259,000. Wells Fargo & Company MN boosted its holdings in shares of 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 buying an additional 141,156 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 18.8% during the 4th quarter. Invesco Ltd. now owns 746,621 shares of the company’s stock worth $13,917,000 after buying an additional 118,352 shares during the period.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

(Get Free Report)

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.

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