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

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

Flaherty & Crumrine Preferred Income Fund Stock Up 0.2 %

Shares of NYSE PFD traded up $0.02 during midday trading on Monday, hitting $11.28. The stock had a trading volume of 3,918 shares, compared to its average volume of 32,572. The company’s 50-day simple moving average is $11.28 and its 200 day simple moving average is $11.47. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $9.80 and a fifty-two week high of $12.08.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be paid a $0.061 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $0.73 annualized dividend and a dividend yield of 6.49%.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth $971,000. McClarren Financial Advisors Inc. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth $39,000. Pathway Financial Advisers LLC boosted its position 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 worth $71,000 after purchasing an additional 2,974 shares during the last quarter. Noble Wealth Management PBC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth $31,000. Finally, Raymond James Financial Inc. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth $2,036,000.

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.