Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.42 and traded as low as $11.25. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.34, with a volume of 44,815 shares changing hands.

Flaherty & Crumrine Preferred Income Fund Stock Performance

The business has a 50-day moving average price of $11.30 and a 200 day moving average price of $11.42.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.061 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.46%. The ex-dividend date is Wednesday, April 23rd.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Institutional investors have recently bought and sold shares of the stock. Noble Wealth Management PBC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth about $31,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at approximately $39,000. Pathway Financial Advisers LLC boosted its stake in 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 worth $71,000 after purchasing an additional 2,974 shares during the period. Ellis Investment Partners LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund during the 3rd quarter worth approximately $125,000. Finally, Commonwealth Equity Services LLC raised its stake in Flaherty & Crumrine Preferred Income Fund by 11.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock valued at $215,000 after purchasing an additional 1,919 shares during the period.

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.