Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Sees Large Increase in Short Interest

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 25,000 shares, an increase of 140.4% from the February 28th total of 10,400 shares. Based on an average trading volume of 27,800 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. Noble Wealth Management PBC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth approximately $31,000. McClarren Financial Advisors Inc. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at $39,000. Pathway Financial Advisers LLC boosted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 88.6% in the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 2,974 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 11.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 1,919 shares during the last quarter. Finally, Guggenheim Capital LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth about $228,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

PFD opened at $11.21 on Friday. The stock’s 50 day simple moving average is $11.29 and its 200-day simple moving average is $11.45. Flaherty & Crumrine Preferred Income Fund has a 1 year low of $9.80 and a 1 year high of $12.08.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a $0.061 dividend. This represents a $0.73 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend is Wednesday, April 23rd.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income 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 the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.