Flaherty & Crumrine Preferred and Income Fund (NYSE:PFO) Shares Down 0.7% – Should You Sell?

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) shares traded down 0.7% during trading on Monday. The company traded as low as $8.46 and last traded at $8.48. Approximately 42,856 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 34,218 shares. The stock had previously closed at $8.54.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.3%

The company has a fifty day moving average of $8.83 and a two-hundred day moving average of $9.06.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

An institutional investor recently raised its position in Flaherty & Crumrine Preferred and Income Fund stock. Rivernorth Capital Management LLC boosted its holdings in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,537 shares of the company’s stock after buying an additional 1,494 shares during the quarter. Rivernorth Capital Management LLC owned approximately 0.17% of Flaherty & Crumrine Preferred and Income Fund worth $208,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Company Profile

Flaherty & Crumrine Preferred and Income Fund is a closed-end management investment company listed on the New York Stock Exchange under the symbol PFO. The fund seeks to provide investors with high current income and, as a secondary objective, capital appreciation.

The fund invests primarily in preferred securities and other income-producing investments. Its portfolio may include preferred stocks, hybrid securities, corporate debt and other fixed-income instruments issued by financial institutions, utilities and other companies.