Flaherty & Crumrine Preferred Income Fund Inc. to Issue Monthly Dividend of $0.07 (NYSE:PFD)

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Thursday, April 16th. Investors of record on Friday, July 24th will be given a dividend of 0.0689 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, July 24th.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.2%

NYSE PFD opened at $11.61 on Friday. Flaherty & Crumrine Preferred Income Fund has a 12 month low of $10.65 and a 12 month high of $12.16. The company’s 50 day simple moving average is $11.59 and its 200 day simple moving average is $11.76.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter valued at approximately $47,000. Capital Investment Advisors LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth approximately $149,000. Cary Street Partners Financial LLC boosted its holdings in Flaherty & Crumrine Preferred Income Fund by 58.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 8,500 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 154.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 26,000 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 15,800 shares during the last quarter. Finally, 1607 Capital Partners LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 3rd quarter worth $435,000.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income Fund (NYSE: PFD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income by investing primarily in preferred securities. The fund’s portfolio typically includes both U.S. and global preferred stocks, hybrid capital instruments and other fixed-income securities that pay fixed or adjustable dividends. It may also invest in investment-grade and below-investment-grade issues to capture yield opportunities across credit quality tiers.

Since its inception in 2006, PFD has aimed to deliver attractive after-tax total returns by actively managing interest-rate and credit-risk exposure.