First Trust Intermediate Duration Preferred & Income Fund (FPF) to Issue Monthly Dividend of $0.11 on October 17th

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPFGet Rating) declared a monthly dividend on Tuesday, September 20th, Wall Street Journal reports. Shareholders of record on Tuesday, October 4th will be given a dividend of 0.1125 per share on Monday, October 17th. This represents a $1.35 annualized dividend and a yield of 7.60%. The ex-dividend date is Monday, October 3rd. This is a positive change from First Trust Intermediate Duration Preferred & Income Fund’s previous monthly dividend of $0.11.

First Trust Intermediate Duration Preferred & Income Fund has decreased its dividend by an average of 4.2% per year over the last three years.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.6 %

NYSE:FPF opened at $17.77 on Thursday. The company has a 50 day moving average price of $19.21 and a 200 day moving average price of $19.61. First Trust Intermediate Duration Preferred & Income Fund has a fifty-two week low of $17.60 and a fifty-two week high of $25.70.

Insider Activity

In related news, insider Scott T. Fleming purchased 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average cost of $18.05 per share, for a total transaction of $135,375.00. Following the purchase, the insider now directly owns 22,500 shares of the company’s stock, valued at $406,125. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in First Trust Intermediate Duration Preferred & Income Fund by 12.4% during the first quarter. Invesco Ltd. now owns 765,470 shares of the company’s stock worth $16,833,000 after acquiring an additional 84,569 shares during the last quarter. Royal Bank of Canada grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 2.0% during the first quarter. Royal Bank of Canada now owns 368,002 shares of the company’s stock worth $8,092,000 after buying an additional 7,178 shares during the period. Bank of America Corp DE grew its stake in First Trust Intermediate Duration Preferred & Income Fund by 4.3% during the first quarter. Bank of America Corp DE now owns 336,776 shares of the company’s stock worth $7,406,000 after buying an additional 14,025 shares during the period. UBS Group AG boosted its stake in shares of First Trust Intermediate Duration Preferred & Income Fund by 2.3% in the first quarter. UBS Group AG now owns 280,306 shares of the company’s stock valued at $6,165,000 after purchasing an additional 6,304 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in First Trust Intermediate Duration Preferred & Income Fund by 73.3% during the 1st quarter. Penserra Capital Management LLC now owns 227,669 shares of the company’s stock valued at $5,006,000 after acquiring an additional 96,306 shares during the last quarter.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

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First Trust Intermediate Duration Preferred & Income Fund is a closed end fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Stonebridge Advisors, LLC. It invests in fixed income markets. The fund will also invest in below investment-grade securities like junk or high-yield securities.

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Dividend History for First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF)

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