First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) Plans Dividend Increase – $0.11 Per Share

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 paid a dividend of 0.1125 per share on Monday, October 17th. This represents a $1.35 dividend on an annualized basis and a yield of 7.60%. The ex-dividend date of this dividend 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 Trading Up 0.6 %

Shares of NYSE:FPF opened at $17.77 on Thursday. First Trust Intermediate Duration Preferred & Income Fund has a one year low of $17.60 and a one year high of $25.70. The stock has a fifty day moving average of $19.21 and a 200-day moving average of $19.61.

Insider Activity

In related news, insider Scott T. Fleming acquired 7,500 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was bought at an average price of $18.05 per share, for a total transaction of $135,375.00. Following the transaction, the insider now owns 22,500 shares of the company’s stock, valued at $406,125. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Institutional Trading of First Trust Intermediate Duration Preferred & Income Fund

Hedge funds have recently modified their holdings of the business. Captrust Financial Advisors purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at $45,000. HighTower Advisors LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the first quarter valued at $200,000. Kingsview Wealth Management LLC purchased a new stake in shares of First Trust Intermediate Duration Preferred & Income Fund in the second quarter valued at $245,000. Guggenheim Capital LLC lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 47.7% in the first quarter. Guggenheim Capital LLC now owns 14,738 shares of the company’s stock valued at $324,000 after purchasing an additional 4,758 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of First Trust Intermediate Duration Preferred & Income Fund by 8.9% in the second quarter. Envestnet Asset Management Inc. now owns 18,517 shares of the company’s stock valued at $346,000 after purchasing an additional 1,511 shares in the last quarter.

About First Trust Intermediate Duration Preferred & Income Fund

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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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