Consolidated Portfolio Review Corp Reduces Stake in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO)

Consolidated Portfolio Review Corp cut its holdings in shares of Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) by 13.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 51,272 shares of the company’s stock after selling 7,786 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Flaherty & Crumrine Preferred and Income Fund were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sit Investment Associates Inc. grew its position in Flaherty & Crumrine Preferred and Income Fund by 85.4% during the 4th quarter. Sit Investment Associates Inc. now owns 542,802 shares of the company’s stock worth $4,891,000 after purchasing an additional 250,024 shares during the period. Noble Wealth Management PBC purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter worth approximately $755,000. Envestnet Asset Management Inc. grew its holdings in Flaherty & Crumrine Preferred and Income Fund by 205.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 116,029 shares of the company’s stock valued at $1,045,000 after purchasing an additional 78,044 shares during the period. Ewing Morris & Co. Investment Partners Ltd. purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the fourth quarter valued at approximately $682,000. Finally, Independent Advisor Alliance acquired a new position in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter worth $407,000. 12.90% of the stock is owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred and Income Fund Stock Up 0.3%

Shares of Flaherty & Crumrine Preferred and Income Fund stock opened at $9.16 on Wednesday. The firm’s 50-day moving average price is $8.95 and its 200 day moving average price is $9.04. Flaherty & Crumrine Preferred and Income Fund Inc. has a twelve month low of $8.01 and a twelve month high of $9.54.

Flaherty & Crumrine Preferred and Income Fund Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 26th were paid a $0.0512 dividend. This is an increase from Flaherty & Crumrine Preferred and Income Fund’s previous dividend of $0.05. This represents a yield of 6.81%. The ex-dividend date of this dividend was Friday, May 23rd.

About Flaherty & Crumrine Preferred and Income Fund

Flaherty & Crumrine Preferred Income Opportunity Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in stocks of companies operating in the financial services sector.