Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Update

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Free Report) was the recipient of a large increase in short interest in May. As of May 29th, there was short interest totaling 12,882 shares, an increase of 97.8% from the May 14th total of 6,511 shares. Based on an average daily volume of 32,163 shares, the days-to-cover ratio is presently 0.4 days.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.4%

Flaherty & Crumrine Preferred Income Fund stock traded up $0.05 during midday trading on Friday, reaching $11.42. 9,915 shares of the company were exchanged, compared to its average volume of 22,356. The firm’s 50-day simple moving average is $11.47 and its 200-day simple moving average is $11.66. Flaherty & Crumrine Preferred Income Fund has a 1 year low of $10.98 and a 1 year high of $12.16.

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Flaherty & Crumrine Preferred Income Fund Announces Dividend

The firm 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 $0.0689 dividend. The ex-dividend date is Friday, July 24th. This represents a c) annualized dividend and a yield of 7.2%.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fiera Capital Corp grew its holdings in Flaherty & Crumrine Preferred Income Fund by 80.8% in the 4th quarter. Fiera Capital Corp now owns 179,838 shares of the real estate investment trust’s stock valued at $2,135,000 after buying an additional 80,344 shares during the period. Sit Investment Associates Inc. grew its holdings in Flaherty & Crumrine Preferred Income Fund by 8.5% in the 4th quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock valued at $13,963,000 after buying an additional 91,962 shares during the period. Lido Advisors LLC grew its holdings in 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 valued at $804,000 after buying an additional 1,069 shares during the period. CreativeOne Wealth LLC grew its holdings in Flaherty & Crumrine Preferred Income Fund by 154.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 26,000 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 15,800 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the 1st quarter valued at about $98,000.

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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