Raymond James & Associates Has $220,000 Stake in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Raymond James & Associates increased its stake in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 32.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,307 shares of the real estate investment trust’s stock after acquiring an additional 5,500 shares during the period. Raymond James & Associates’ holdings in Flaherty & Crumrine Preferred Income Fund were worth $220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Saba Capital Management L.P. acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter worth $232,000. D.A. Davidson & CO. raised its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 10.3% during the third quarter. D.A. Davidson & CO. now owns 30,715 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 2,864 shares during the period. Robinson Capital Management LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter worth $358,000. AQR Arbitrage LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter worth $403,000. Finally, SFI Advisors LLC raised its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 7.7% during the third quarter. SFI Advisors LLC now owns 48,859 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 3,500 shares during the period.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.1 %

Shares of PFD stock opened at $10.00 on Wednesday. Flaherty & Crumrine Preferred Income Fund Inc. has a 1 year low of $8.53 and a 1 year high of $10.92. The firm’s fifty day moving average price is $10.27 and its two-hundred day moving average price is $9.96.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 24th will be paid a $0.0583 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.70 annualized dividend and a yield of 7.00%.

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.