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

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) announced a monthly dividend on Monday, April 20th. Investors of record on Friday, May 1st will be paid a dividend of 0.1375 per share on Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 8.9%. The ex-dividend date is Friday, May 1st.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.1%

NYSE:FPF traded down $0.01 during trading hours on Tuesday, reaching $18.58. 35,913 shares of the company’s stock were exchanged, compared to its average volume of 117,674. First Trust Intermediate Duration Preferred & Income Fund has a 12 month low of $17.01 and a 12 month high of $19.75. The business’s 50-day simple moving average is $18.41 and its two-hundred day simple moving average is $18.62.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gridiron Partners LLC grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 9,427.9% in the 3rd quarter. Gridiron Partners LLC now owns 2,530,426 shares of the company’s stock valued at $509,000 after buying an additional 2,503,868 shares during the last quarter. Sit Investment Associates Inc. grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 111.6% in the 4th quarter. Sit Investment Associates Inc. now owns 1,215,664 shares of the company’s stock valued at $22,660,000 after buying an additional 641,124 shares during the last quarter. Morgan Stanley grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 6.0% in the 4th quarter. Morgan Stanley now owns 9,196,102 shares of the company’s stock valued at $171,415,000 after buying an additional 522,557 shares during the last quarter. Peak Planning Group LLC acquired a new position in First Trust Intermediate Duration Preferred & Income Fund in the 4th quarter valued at $7,259,000. Finally, Wells Fargo & Company MN grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 13.9% in the 4th 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 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.