First Trust Intrmdt Drtn Prfrd & Incm Fd (NYSE:FPF) Stock Price Up 11.9% on Insider Buying Activity

First Trust Intrmdt Drtn Prfrd & Incm Fd (NYSE:FPF) shares rose 11.9% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $16.25 and last traded at $17.39, approximately 7,620 shares traded hands during trading. A decline of 98% from the average daily volume of 329,169 shares. The stock had previously closed at $15.54.

Specifically, insider Scott T. Fleming bought 7,500 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $15.45 per share, for a total transaction of $115,875.00.

The firm’s fifty day moving average price is $21.84 and its 200 day moving average price is $23.30.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Thursday, April 2nd will be issued a $0.132 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.58 annualized dividend and a dividend yield of 9.08%.

A number of hedge funds and other institutional investors have recently made changes to their positions in FPF. UBS Group AG boosted its position in shares of First Trust Intrmdt Drtn Prfrd & Incm Fd by 4.6% during the fourth quarter. UBS Group AG now owns 1,089,214 shares of the company’s stock worth $25,695,000 after buying an additional 47,620 shares during the period. Parametric Portfolio Associates LLC lifted its stake in First Trust Intrmdt Drtn Prfrd & Incm Fd by 10.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 533,029 shares of the company’s stock worth $12,601,000 after acquiring an additional 49,894 shares in the last quarter. Bank of America Corp DE boosted its holdings in First Trust Intrmdt Drtn Prfrd & Incm Fd by 3.4% during the 4th quarter. Bank of America Corp DE now owns 360,285 shares of the company’s stock valued at $8,499,000 after acquiring an additional 11,831 shares during the period. Shaker Financial Services LLC boosted its holdings in First Trust Intrmdt Drtn Prfrd & Incm Fd by 290.8% during the 4th quarter. Shaker Financial Services LLC now owns 123,671 shares of the company’s stock valued at $2,917,000 after acquiring an additional 92,026 shares during the period. Finally, IHT Wealth Management LLC boosted its holdings in First Trust Intrmdt Drtn Prfrd & Incm Fd by 18.2% during the 3rd quarter. IHT Wealth Management LLC now owns 118,588 shares of the company’s stock valued at $2,813,000 after acquiring an additional 18,301 shares during the period.

First Trust Intrmdt Drtn Prfrd & Incm Fd Company Profile (NYSE:FPF)

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.

See Also: What is included in the gross domestic product?

Receive News & Ratings for First Trust Intrmdt Drtn Prfrd & Incm Fd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Trust Intrmdt Drtn Prfrd & Incm Fd and related companies with MarketBeat.com's FREE daily email newsletter.