Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) to Issue Monthly Dividend of $0.07

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Thursday, April 16th. Stockholders of record on Thursday, May 21st will be given a dividend of 0.0689 per share by the real estate investment trust on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Thursday, May 21st. This is a 2.5% increase from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.07.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.2%

Flaherty & Crumrine Preferred Income Fund stock opened at $11.61 on Friday. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $10.65 and a fifty-two week high of $12.16. The firm’s fifty day moving average price is $11.59 and its 200-day moving average price is $11.76.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PFD. Lido Advisors LLC grew its position in Flaherty & Crumrine Preferred Income Fund by 1.6% in the third quarter. Lido Advisors LLC now owns 66,880 shares of the real estate investment trust’s stock worth $804,000 after acquiring an additional 1,069 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the third quarter worth $47,000. Osaic Holdings Inc. grew its position in Flaherty & Crumrine Preferred Income Fund by 7.4% in the second quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock worth $1,015,000 after acquiring an additional 6,217 shares in the last quarter. Raymond James Financial Inc. grew its position in Flaherty & Crumrine Preferred Income Fund by 3.8% in the second quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock worth $2,006,000 after acquiring an additional 6,569 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Flaherty & Crumrine Preferred Income Fund by 5.5% in the third quarter. Bank of America Corp DE now owns 163,028 shares of the real estate investment trust’s stock worth $1,960,000 after acquiring an additional 8,450 shares in the last quarter.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income Fund (NYSE: PFD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income by investing primarily in preferred securities. The fund’s portfolio typically includes both U.S. and global preferred stocks, hybrid capital instruments and other fixed-income securities that pay fixed or adjustable dividends. It may also invest in investment-grade and below-investment-grade issues to capture yield opportunities across credit quality tiers.

Since its inception in 2006, PFD has aimed to deliver attractive after-tax total returns by actively managing interest-rate and credit-risk exposure.