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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) declared a monthly dividend on Thursday, August 20th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.1375 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend is Tuesday, September 1st.

First Trust Intermediate Duration Preferred & Income Fund Stock Down 0.2%

Shares of FPF opened at $17.67 on Friday. The firm’s 50 day moving average is $17.88 and its 200-day moving average is $18.18. First Trust Intermediate Duration Preferred & Income Fund has a 12-month low of $17.21 and a 12-month high of $19.75.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund during the 1st quarter worth $60,000. Invesco Ltd. raised its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 17.3% during the second quarter. Invesco Ltd. now owns 773,685 shares of the company’s stock worth $14,561,000 after purchasing an additional 114,174 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 59.3% during the second quarter. NewEdge Advisors LLC now owns 94,040 shares of the company’s stock valued at $1,770,000 after purchasing an additional 35,004 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of First Trust Intermediate Duration Preferred & Income Fund by 18.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 6,928 shares of the company’s stock valued at $130,000 after purchasing an additional 1,065 shares during the period. Finally, SeaCrest Wealth Management LLC increased its stake in First Trust Intermediate Duration Preferred & Income Fund by 23.7% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 16,926 shares of the company’s stock worth $317,000 after purchasing an additional 3,242 shares in the last quarter.

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.