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

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) annualized dividend 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. The stock’s fifty day moving average is $18.81 and its 200 day moving average is $18.85. First Trust Intermediate Duration Preferred & Income Fund has a fifty-two week low of $15.60 and a fifty-two week high of $19.75.

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

Several institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its stake 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 purchasing an additional 522,557 shares during the period. Gridiron Partners LLC lifted 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 during the last quarter. Sit Investment Associates Inc. lifted its stake in First Trust Intermediate Duration Preferred & Income Fund by 111.6% in the fourth 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 last quarter. Wells Fargo & Company MN boosted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 13.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,154,534 shares of the company’s stock valued at $21,521,000 after buying an additional 141,156 shares during the period. Finally, LPL Financial LLC grew its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 13.9% during the fourth quarter. LPL Financial LLC now owns 949,342 shares of the company’s stock valued at $17,696,000 after buying an additional 115,746 shares during 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.