First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Stock Crosses Above 50-Day Moving Average – Time to Sell?

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 traded.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

The company has a 50 day simple moving average of $18.89 and a 200-day simple moving average of $18.91.

First Trust Intermediate Duration Preferred & Income Fund Announces Dividend

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

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

Several institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at about $48,000. CIBC Private Wealth Group LLC purchased a new position in First Trust Intermediate Duration Preferred & Income Fund during the 4th quarter valued at about $49,000. Advisory Services Network LLC bought a new position in First Trust Intermediate Duration Preferred & Income Fund during the 3rd quarter valued at approximately $53,000. Jones Financial Companies Lllp purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 1st quarter worth approximately $60,000. Finally, Ameriflex Group Inc. purchased a new stake in First Trust Intermediate Duration Preferred & Income Fund in the 3rd quarter worth approximately $100,000.

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.