Flaherty & Crumrine Preferred and Income Fund Inc. $PFO Shares Bought by Sit Investment Associates Inc.

Sit Investment Associates Inc. raised its holdings in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,328,546 shares of the company’s stock after purchasing an additional 73,704 shares during the period. Sit Investment Associates Inc. owned about 10.16% of Flaherty & Crumrine Preferred and Income Fund worth $12,555,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. CIBC Bancorp USA Inc. acquired a new stake in Flaherty & Crumrine Preferred and Income Fund in the third quarter valued at approximately $5,738,000. Pathstone Holdings LLC acquired a new stake in Flaherty & Crumrine Preferred and Income Fund in the third quarter valued at approximately $3,073,000. 1607 Capital Partners LLC acquired a new stake in Flaherty & Crumrine Preferred and Income Fund in the third quarter valued at approximately $1,936,000. Private Advisor Group LLC lifted its position in shares of Flaherty & Crumrine Preferred and Income Fund by 0.9% in the third quarter. Private Advisor Group LLC now owns 191,153 shares of the company’s stock valued at $1,864,000 after acquiring an additional 1,745 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Flaherty & Crumrine Preferred and Income Fund by 5.9% in the third quarter. Envestnet Asset Management Inc. now owns 146,589 shares of the company’s stock valued at $1,429,000 after acquiring an additional 8,181 shares in the last quarter. 12.90% of the stock is owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

NYSE PFO opened at $9.14 on Friday. The stock’s 50 day simple moving average is $9.19 and its 200-day simple moving average is $9.36. Flaherty & Crumrine Preferred and Income Fund Inc. has a 1-year low of $8.85 and a 1-year high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be given a $0.0556 dividend. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Friday, July 24th.

Flaherty & Crumrine Preferred and Income Fund Company Profile

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.