Flaherty & Crumrine Preferred Income Fund Inc. (PFD) To Go Ex-Dividend on May 21st

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Wednesday, April 15th. Shareholders of record on Thursday, May 21st will be paid a dividend of 0.0689 per share by the real estate investment trust on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend is Thursday, May 21st. This is a 2.5% increase from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.07.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of NYSE:PFD opened at $11.36 on Tuesday. The business has a fifty day moving average price of $11.41 and a two-hundred day moving average price of $11.70. Flaherty & Crumrine Preferred Income Fund has a 1 year low of $10.86 and a 1 year high of $12.16.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter valued at $5,305,000. Fiera Capital Corp purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter valued at $1,196,000. Sit Investment Associates Inc. lifted its position 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 valued at $13,963,000 after buying an additional 91,962 shares during the last quarter. 1607 Capital Partners LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter valued at $435,000. Finally, Smith Asset Management Co. LLC lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 40.5% during the 3rd quarter. Smith Asset Management Co. LLC now owns 106,993 shares of the real estate investment trust’s stock valued at $1,214,000 after buying an additional 30,861 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.