Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Up 166.4% in December

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 30,900 shares, a growth of 166.4% from the November 30th total of 11,600 shares. Based on an average trading volume of 29,000 shares, the short-interest ratio is currently 1.1 days.

Flaherty & Crumrine Preferred Income Fund Stock Down 1.3 %

PFD traded down $0.14 on Friday, hitting $11.02. 24,158 shares of the company’s stock traded hands, compared to its average volume of 33,171. The company’s 50 day simple moving average is $11.43 and its 200-day simple moving average is $11.25. 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 Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Friday, January 24th.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Several hedge funds have recently modified their holdings of PFD. Matisse Capital lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 564.1% in the second quarter. Matisse Capital now owns 140,368 shares of the real estate investment trust’s stock worth $1,465,000 after buying an additional 119,230 shares in the last quarter. Private Wealth Strategies L.L.C. grew its holdings in Flaherty & Crumrine Preferred Income Fund by 1.7% during the 2nd quarter. Private Wealth Strategies L.L.C. now owns 68,628 shares of the real estate investment trust’s stock valued at $716,000 after buying an additional 1,139 shares in the last quarter. First National Trust Co bought a new stake in Flaherty & Crumrine Preferred Income Fund in the 2nd quarter worth approximately $110,000. Ellis Investment Partners LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter worth approximately $125,000. Finally, Arrow Financial Corp bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 2nd quarter valued at approximately $40,000.

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.