Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Share Price Passes Below 200 Day Moving Average – What’s Next?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.48 and traded as low as $11.16. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.19, with a volume of 33,469 shares traded.

Flaherty & Crumrine Preferred Income Fund Price Performance

The business’s 50-day moving average is $11.28 and its 200 day moving average is $11.48.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 23rd will be given a $0.061 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend is Wednesday, April 23rd.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

A number of hedge funds have recently modified their holdings of PFD. Raymond James Financial Inc. purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at about $2,036,000. UMB Bank n.a. purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at about $971,000. Lido Advisors LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at about $796,000. Cary Street Partners Financial LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at about $444,000. Finally, Sit Investment Associates Inc. increased its position in shares of Flaherty & Crumrine Preferred Income Fund by 11.9% in the fourth quarter. Sit Investment Associates Inc. now owns 354,898 shares of the real estate investment trust’s stock valued at $3,989,000 after acquiring an additional 37,822 shares during the period.

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.