Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Pass Above 50-Day Moving Average – Time to Sell?

Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Free Report) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.45 and traded as high as $11.49. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.45, with a volume of 22,414 shares.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.2%

The firm has a fifty day moving average of $11.45 and a 200-day moving average of $11.66.

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Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be issued a dividend of $0.0689 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) annualized dividend and a yield of 7.2%.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fiera Capital Corp acquired a new position in Flaherty & Crumrine Preferred Income Fund during the third quarter worth $1,196,000. Fifth Third Bancorp acquired a new position in Flaherty & Crumrine Preferred Income Fund during the first quarter worth $98,000. Kestra Advisory Services LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund during the first quarter worth $128,000. Sit Investment Associates Inc. raised its holdings in Flaherty & Crumrine Preferred Income Fund by 8.5% during the fourth quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock worth $13,963,000 after purchasing an additional 91,962 shares during the last quarter. Finally, 1607 Capital Partners LLC raised its holdings in Flaherty & Crumrine Preferred Income Fund by 56.4% during the fourth quarter. 1607 Capital Partners LLC now owns 56,600 shares of the real estate investment trust’s stock worth $672,000 after purchasing an additional 20,400 shares during the last quarter.

Flaherty & Crumrine Preferred Income Fund Company Profile

(Get Free Report)

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.

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