Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Down 32.9% in February

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 10,400 shares, a decrease of 32.9% from the February 13th total of 15,500 shares. Based on an average daily volume of 28,500 shares, the days-to-cover ratio is currently 0.4 days.

Flaherty & Crumrine Preferred Income Fund Price Performance

Shares of NYSE:PFD traded up $0.03 during midday trading on Friday, reaching $11.26. 6,903 shares of the company were exchanged, compared to its average volume of 32,631. The business’s fifty day moving average is $11.28 and its two-hundred day moving average is $11.47. Flaherty & Crumrine Preferred Income Fund has a one year low of $9.80 and a one year high of $12.08.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a dividend of $0.061 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.50%.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. McClarren Financial Advisors Inc. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth $39,000. Noble Wealth Management PBC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth $31,000. Pathway Financial Advisers LLC lifted its position in Flaherty & Crumrine Preferred Income Fund by 88.6% during the fourth 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 during the last quarter. UMB Bank n.a. bought a new position in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at $971,000. Finally, Stifel Financial Corp bought a new position in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at $307,000.

Flaherty & Crumrine Preferred Income Fund Company Profile

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.