Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Free Report) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 25,428 shares, a growth of 97.4% from the May 31st total of 12,882 shares. Based on an average trading volume of 19,580 shares, the days-to-cover ratio is currently 1.3 days.
Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund
A number of hedge funds have recently bought and sold shares of PFD. CIBC Bancorp USA Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter worth approximately $5,305,000. Sit Investment Associates Inc. boosted its stake in shares of 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 worth $13,963,000 after buying an additional 91,962 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 80.8% in the fourth quarter. Fiera Capital Corp now owns 179,838 shares of the real estate investment trust’s stock worth $2,135,000 after acquiring an additional 80,344 shares during the period. 1607 Capital Partners LLC bought a new position in Flaherty & Crumrine Preferred Income Fund in the third quarter valued at about $435,000. Finally, LPL Financial LLC boosted its position in Flaherty & Crumrine Preferred Income Fund by 32.9% in the fourth quarter. LPL Financial LLC now owns 89,580 shares of the real estate investment trust’s stock worth $1,063,000 after purchasing an additional 22,173 shares during the last quarter.
Flaherty & Crumrine Preferred Income Fund Price Performance
Flaherty & Crumrine Preferred Income Fund stock opened at $11.59 on Friday. The stock has a fifty day simple moving average of $11.50 and a two-hundred day simple moving average of $11.63. Flaherty & Crumrine Preferred Income Fund has a 12 month low of $10.98 and a 12 month high of $12.16.
Flaherty & Crumrine Preferred Income Fund Dividend Announcement
Flaherty & Crumrine Preferred Income Fund Company Profile
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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