Flaherty & Crumrine Preferred and Income Fund Inc. (PFO) To Go Ex-Dividend on July 24th

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) announced a monthly dividend on Thursday, April 16th. Shareholders of record on Friday, July 24th will be paid a dividend of 0.0556 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Friday, July 24th.

Flaherty & Crumrine Preferred and Income Fund Stock Up 0.5%

NYSE:PFO opened at $9.36 on Friday. The firm’s fifty day simple moving average is $9.32 and its 200-day simple moving average is $9.49. Flaherty & Crumrine Preferred and Income Fund has a fifty-two week low of $8.01 and a fifty-two week high of $9.90.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred and Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 3rd quarter worth approximately $5,738,000. Pathstone Holdings LLC acquired a new stake in Flaherty & Crumrine Preferred and Income Fund in the third quarter valued at $3,073,000. Advisors Asset Management Inc. grew its holdings in Flaherty & Crumrine Preferred and Income Fund by 228.6% in the fourth quarter. Advisors Asset Management Inc. now owns 309,687 shares of the company’s stock valued at $2,927,000 after purchasing an additional 215,441 shares during the last quarter. 1607 Capital Partners LLC purchased a new position in shares of Flaherty & Crumrine Preferred and Income Fund in the third quarter valued at $1,936,000. Finally, Closed End Fund Advisors Inc. purchased a new position in shares of Flaherty & Crumrine Preferred and Income Fund in the fourth quarter valued at $909,000. 12.90% of the stock is currently owned by institutional investors and hedge funds.

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.