Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Short Interest Up 218.4% in March

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 37,723 shares, an increase of 218.4% from the March 15th total of 11,848 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 35,073 shares, the short-interest ratio is presently 1.1 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred and Income Fund

A number of large investors have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. grew its position in Flaherty & Crumrine Preferred and Income Fund by 5.9% during the fourth quarter. Sit Investment Associates Inc. now owns 1,328,546 shares of the company’s stock worth $12,555,000 after buying an additional 73,704 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 3rd quarter valued at $5,738,000. Pathstone Holdings LLC acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 3rd quarter valued at $3,073,000. Advisors Asset Management Inc. boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 228.6% in the 4th quarter. Advisors Asset Management Inc. now owns 309,687 shares of the company’s stock valued at $2,927,000 after purchasing an additional 215,441 shares in the last quarter. Finally, 1607 Capital Partners LLC boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 32.5% during the 4th quarter. 1607 Capital Partners LLC now owns 263,244 shares of the company’s stock valued at $2,488,000 after acquiring an additional 64,634 shares in the last quarter. Institutional investors and hedge funds own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Price Performance

Shares of NYSE PFO traded up $0.01 during trading hours on Friday, reaching $9.27. 7,660 shares of the stock were exchanged, compared to its average volume of 28,203. Flaherty & Crumrine Preferred and Income Fund has a 52 week low of $8.01 and a 52 week high of $9.90. The stock’s fifty day simple moving average is $9.36 and its 200 day simple moving average is $9.50.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 23rd will be given a dividend of $0.0546 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a c) dividend on an annualized basis and a yield of 7.1%.

About Flaherty & Crumrine Preferred and Income Fund

Flaherty & Crumrine Preferred and Income Fund (NYSE:PFO) is a closed-end management investment company designed to provide investors with a high level of current income. The fund focuses its portfolio primarily on preferred and participating securities, including traditional preferred shares, convertible preferred instruments, trust preferred issues and other hybrid securities issued by corporations and financial institutions.

Through broad diversification across industry sectors and geographies, PFO aims to manage credit and interest-rate risk while pursuing attractive yield opportunities.