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 increase in short interest during the month of February. As of February 15th, there was short interest totalling 15,500 shares, an increase of 49.0% from the January 31st total of 10,400 shares. Based on an average trading volume of 28,700 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PFD. McClarren Financial Advisors Inc. purchased a new position in Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth approximately $39,000. Noble Wealth Management PBC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at $31,000. Pathway Financial Advisers LLC grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 88.6% during the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 2,974 shares during the period. UMB Bank n.a. acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth about $971,000. Finally, Stifel Financial Corp acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth about $307,000.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.6 %

Shares of PFD traded down $0.07 during mid-day trading on Tuesday, reaching $11.21. The stock had a trading volume of 57,237 shares, compared to its average volume of 28,725. Flaherty & Crumrine Preferred Income Fund has a 52-week low of $9.80 and a 52-week high of $12.08. The business’s fifty day moving average is $11.27 and its 200 day moving average is $11.47.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be paid a $0.061 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $0.73 annualized dividend and a dividend yield of 6.53%.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.