Flaherty & Crumrine Preferred and Income Fund Inc. $PFO Shares Sold by Summit X LLC

Summit X LLC decreased its holdings in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) by 8.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,112 shares of the company’s stock after selling 5,320 shares during the quarter. Summit X LLC owned 0.44% of Flaherty & Crumrine Preferred and Income Fund worth $528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sit Investment Associates Inc. raised its position in shares of Flaherty & Crumrine Preferred and Income Fund by 12.1% during the 1st quarter. Sit Investment Associates Inc. now owns 608,217 shares of the company’s stock valued at $5,608,000 after buying an additional 65,415 shares during the period. Wolverine Asset Management LLC purchased a new position in Flaherty & Crumrine Preferred and Income Fund in the 2nd quarter valued at approximately $365,000. Baird Financial Group Inc. acquired a new stake in Flaherty & Crumrine Preferred and Income Fund in the 1st quarter valued at about $288,000. Invesco Ltd. boosted its holdings in Flaherty & Crumrine Preferred and Income Fund by 195.7% in the first quarter. Invesco Ltd. now owns 37,220 shares of the company’s stock valued at $343,000 after purchasing an additional 24,633 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 14.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 132,350 shares of the company’s stock valued at $1,220,000 after purchasing an additional 16,321 shares during the last quarter. 12.90% of the stock is currently owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred and Income Fund Trading Down 0.4%

Shares of NYSE:PFO opened at $9.59 on Monday. Flaherty & Crumrine Preferred and Income Fund Inc. has a 1-year low of $8.01 and a 1-year high of $9.90. The firm has a fifty day moving average price of $9.66 and a 200 day moving average price of $9.32.

Flaherty & Crumrine Preferred and Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 20th will be given a $0.0525 dividend. This is a boost from Flaherty & Crumrine Preferred and Income Fund’s previous monthly dividend of $0.05. The ex-dividend date is Thursday, November 20th. This represents a c) annualized dividend and a yield of 6.6%.

Flaherty & Crumrine Preferred and Income Fund Company Profile

Flaherty & Crumrine Preferred Income Opportunity Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in stocks of companies operating in the financial services sector.