Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Sees Large Decline in Short Interest

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 5,907 shares, a decrease of 84.3% from the March 31st total of 37,723 shares. Based on an average daily volume of 18,568 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

A number of hedge funds have recently bought and sold shares of the stock. Sit Investment Associates Inc. boosted its holdings in Flaherty & Crumrine Preferred and Income Fund by 5.9% in the 4th 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 period. CIBC Bancorp USA Inc. bought a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the 3rd quarter worth about $5,738,000. Pathstone Holdings LLC bought a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the 3rd quarter worth about $3,073,000. Advisors Asset Management Inc. lifted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 228.6% during the 4th quarter. Advisors Asset Management Inc. now owns 309,687 shares of the company’s stock worth $2,927,000 after acquiring an additional 215,441 shares during the period. Finally, 1607 Capital Partners LLC lifted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 32.5% during the 4th quarter. 1607 Capital Partners LLC now owns 263,244 shares of the company’s stock worth $2,488,000 after acquiring an additional 64,634 shares during the period. 12.90% of the stock is owned by institutional investors.

Flaherty & Crumrine Preferred and Income Fund Price Performance

Flaherty & Crumrine Preferred and Income Fund stock traded up $0.01 during mid-day trading on Friday, reaching $9.30. The company had a trading volume of 24,860 shares, compared to its average volume of 27,652. Flaherty & Crumrine Preferred and Income Fund has a 52 week low of $8.01 and a 52 week high of $9.90. The company has a 50 day moving average of $9.29 and a 200-day moving average of $9.47.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be issued a $0.0556 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) dividend on an annualized basis and a yield of 7.2%.

Flaherty & Crumrine Preferred and Income Fund Company Profile

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.