Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Update

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the recipient of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 12,483 shares, a drop of 35.9% from the April 15th total of 19,464 shares. Based on an average daily volume of 12,410 shares, the short-interest ratio is presently 1.0 days.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.4%

NYSE:PFD traded up $0.05 during trading hours on Tuesday, hitting $11.40. The stock had a trading volume of 32,093 shares, compared to its average volume of 22,249. Flaherty & Crumrine Preferred Income Fund has a one year low of $10.86 and a one year high of $12.16. The company has a 50 day simple moving average of $11.41 and a two-hundred day simple moving average of $11.70.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be issued a dividend of $0.0689 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, July 24th.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

A number of hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. lifted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 8.5% during the 4th quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock worth $13,963,000 after acquiring an additional 91,962 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter worth $5,305,000. Fiera Capital Corp lifted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 80.8% during the 4th quarter. Fiera Capital Corp now owns 179,838 shares of the real estate investment trust’s stock worth $2,135,000 after acquiring an additional 80,344 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 3.8% during the 2nd quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock worth $2,006,000 after acquiring an additional 6,569 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 5.5% during the 3rd quarter. Bank of America Corp DE now owns 163,028 shares of the real estate investment trust’s stock worth $1,960,000 after acquiring an additional 8,450 shares during the last quarter.

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.