Rivernorth Capital Management LLC cut its holdings in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO – Free Report) by 81.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,043 shares of the company’s stock after selling 90,702 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Flaherty & Crumrine Preferred and Income Fund were worth $190,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Sit Investment Associates Inc. lifted its position in Flaherty & Crumrine Preferred and Income Fund by 5.9% during the fourth quarter. Sit Investment Associates Inc. now owns 1,328,546 shares of the company’s stock valued at $12,555,000 after purchasing an additional 73,704 shares during the last quarter. Closed End Fund Advisors Inc. purchased a new position in shares of Flaherty & Crumrine Preferred and Income Fund in the 4th quarter worth $909,000. Fiera Capital Corp increased its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 115.9% in the 4th quarter. Fiera Capital Corp now owns 129,862 shares of the company’s stock worth $1,227,000 after buying an additional 69,717 shares during the last quarter. 1607 Capital Partners LLC increased its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 32.5% in the 4th quarter. 1607 Capital Partners LLC now owns 263,244 shares of the company’s stock worth $2,488,000 after buying an additional 64,634 shares during the last quarter. Finally, Mustico Financial Group Inc. raised its position in shares of Flaherty & Crumrine Preferred and Income Fund by 6.3% during the 4th quarter. Mustico Financial Group Inc. now owns 81,339 shares of the company’s stock valued at $770,000 after buying an additional 4,788 shares in the last quarter. Hedge funds and other institutional investors own 12.90% of the company’s stock.
Flaherty & Crumrine Preferred and Income Fund Stock Down 0.6%
Shares of NYSE:PFO opened at $9.03 on Thursday. Flaherty & Crumrine Preferred and Income Fund Inc. has a 12 month low of $8.85 and a 12 month high of $9.90. The company has a 50-day moving average price of $9.16 and a 200 day moving average price of $9.29.
Flaherty & Crumrine Preferred and Income Fund Announces Dividend
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.
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