Short Interest in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Decreases By 29.8%

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 11,668 shares, a drop of 29.8% from the December 15th total of 16,611 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 36,289 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 36,289 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Flaherty & Crumrine Preferred and Income Fund Price Performance

Shares of NYSE PFO remained flat at $9.55 during mid-day trading on Monday. The company had a trading volume of 11,948 shares, compared to its average volume of 25,126. The stock’s fifty day moving average price is $9.48 and its 200 day moving average price is $9.48. Flaherty & Crumrine Preferred and Income Fund has a 52-week low of $8.01 and a 52-week high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 23rd will be issued a $0.0546 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a c) dividend on an annualized basis and a yield of 6.9%.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred and Income Fund

A number of large investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new stake in Flaherty & Crumrine Preferred and Income Fund in the 3rd quarter worth $5,738,000. Pathstone Holdings LLC purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the third quarter valued at $3,073,000. 1607 Capital Partners LLC acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the third quarter valued at about $1,936,000. Private Advisor Group LLC increased its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 0.9% during the third quarter. Private Advisor Group LLC now owns 191,153 shares of the company’s stock worth $1,864,000 after purchasing an additional 1,745 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 5.9% during the third quarter. Envestnet Asset Management Inc. now owns 146,589 shares of the company’s stock worth $1,429,000 after purchasing an additional 8,181 shares in the last quarter. Institutional investors and hedge funds own 12.90% of the company’s stock.

About Flaherty & Crumrine Preferred and Income Fund

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.