Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Free Report) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 3,134 shares, a drop of 75.6% from the July 30th total of 12,830 shares. Based on an average daily volume of 37,841 shares, the short-interest ratio is presently 0.1 days.
Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund
Institutional investors and hedge funds have recently bought and sold shares of the company. Lido Advisors LLC lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 1.6% in the 3rd quarter. Lido Advisors LLC now owns 66,880 shares of the real estate investment trust’s stock worth $804,000 after purchasing an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Flaherty & Crumrine Preferred Income Fund during the second quarter valued at about $43,000. Western Wealth Management LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the first quarter valued at about $32,000. Allworth Financial LP bought a new position in Flaherty & Crumrine Preferred Income Fund in the second quarter worth about $40,000. Finally, Osaic Holdings Inc. raised its holdings in Flaherty & Crumrine Preferred Income Fund by 7.4% in the second quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock worth $1,015,000 after purchasing an additional 6,217 shares in the last quarter.
Flaherty & Crumrine Preferred Income Fund Price Performance
PFD stock opened at $11.28 on Friday. Flaherty & Crumrine Preferred Income Fund has a 12 month low of $10.98 and a 12 month high of $12.16. The firm’s 50-day moving average is $11.43 and its 200 day moving average is $11.50.
Flaherty & Crumrine Preferred Income Fund Announces Dividend
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.
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