Bridgewealth Advisory Group LLC Boosts Holdings in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Bridgewealth Advisory Group LLC raised its holdings in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 112.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 27,733 shares of the real estate investment trust’s stock after acquiring an additional 14,688 shares during the period. Bridgewealth Advisory Group LLC’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. bought a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth $971,000. McClarren Financial Advisors Inc. purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth about $39,000. Pathway Financial Advisers LLC raised its stake in shares of Flaherty & Crumrine Preferred Income Fund by 88.6% in the fourth quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 2,974 shares during the period. Noble Wealth Management PBC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter valued at about $31,000. Finally, Raymond James Financial Inc. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter valued at approximately $2,036,000.

Flaherty & Crumrine Preferred Income Fund Price Performance

Flaherty & Crumrine Preferred Income Fund stock opened at $10.91 on Wednesday. Flaherty & Crumrine Preferred Income Fund Inc. has a 12-month low of $9.90 and a 12-month high of $12.08. The firm has a 50 day moving average of $11.02 and a 200 day moving average of $11.27.

Flaherty & Crumrine Preferred Income Fund Cuts Dividend

The company also recently announced a — dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 23rd will be paid a dividend of $0.0622 per share. This represents a dividend yield of 6.9%. The ex-dividend date of this dividend is Monday, June 23rd.

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.