Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) to Issue Dividend Increase – $0.07 Per Share

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) announced a monthly dividend on Thursday, April 16th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.0689 per share by the real estate investment trust on Friday, May 29th. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date is Thursday, May 21st. This is a 2.5% increase from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.07.

Flaherty & Crumrine Preferred Income Fund Stock Performance

NYSE PFD opened at $11.61 on Friday. The company has a 50-day simple moving average of $11.59 and a two-hundred day simple moving average of $11.76. Flaherty & Crumrine Preferred Income Fund has a 12-month low of $10.65 and a 12-month high of $12.16.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Several institutional investors have recently added to or reduced their stakes in PFD. Farther Finance Advisors LLC purchased a new stake in Flaherty & Crumrine Preferred Income Fund during the third quarter valued at about $47,000. Capital Investment Advisors LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at about $149,000. Cary Street Partners Financial LLC raised its stake in shares of Flaherty & Crumrine Preferred Income Fund by 58.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock valued at $275,000 after acquiring an additional 8,500 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of Flaherty & Crumrine Preferred Income Fund by 154.9% during the third quarter. CreativeOne Wealth LLC now owns 26,000 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 15,800 shares during the last quarter. Finally, 1607 Capital Partners LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter valued at about $435,000.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income Fund (NYSE: PFD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income by investing primarily in preferred securities. The fund’s portfolio typically includes both U.S. and global preferred stocks, hybrid capital instruments and other fixed-income securities that pay fixed or adjustable dividends. It may also invest in investment-grade and below-investment-grade issues to capture yield opportunities across credit quality tiers.

Since its inception in 2006, PFD has aimed to deliver attractive after-tax total returns by actively managing interest-rate and credit-risk exposure.