First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Declares $0.11 Monthly Dividend

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF – Get Rating) announced a monthly dividend on Monday, January 23rd, Zacks reports. Investors of record on Thursday, February 2nd will be paid a dividend of 0.112 per share on Wednesday, February 15th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.24%. The ex-dividend date of this dividend is Wednesday, February 1st.

First Trust Intermediate Duration Preferred & Income Fund has decreased its dividend by an average of 4.5% annually over the last three years.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

Shares of NYSE:FPF opened at $18.56 on Wednesday. First Trust Intermediate Duration Preferred & Income Fund has a 12 month low of $15.54 and a 12 month high of $23.70. The company’s fifty day simple moving average is $17.48 and its 200 day simple moving average is $17.81.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James & Associates grew its position in First Trust Intermediate Duration Preferred & Income Fund by 4.8% in the first quarter. Raymond James & Associates now owns 61,050 shares of the company’s stock valued at $1,342,000 after purchasing an additional 2,810 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in First Trust Intermediate Duration Preferred & Income Fund by 2.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,760 shares of the company’s stock valued at $676,000 after purchasing an additional 804 shares in the last quarter. HighTower Advisors LLC bought a new position in First Trust Intermediate Duration Preferred & Income Fund in the first quarter valued at $200,000. NewEdge Advisors LLC grew its position in First Trust Intermediate Duration Preferred & Income Fund by 30.4% in the first quarter. NewEdge Advisors LLC now owns 29,972 shares of the company’s stock valued at $659,000 after purchasing an additional 6,987 shares in the last quarter. Finally, Penserra Capital Management LLC grew its position in First Trust Intermediate Duration Preferred & Income Fund by 73.3% in the first quarter. Penserra Capital Management LLC now owns 227,669 shares of the company’s stock valued at $5,006,000 after purchasing an additional 96,306 shares in the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

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First Trust Intermediate Duration Preferred & Income Fund engages in the investment current income and a secondary objective of capital appreciation. The company was founded in 1999 is headquartered in Wheaton, IL.