Closed End Fund Advisors Inc. Takes $909,000 Position in Flaherty & Crumrine Preferred and Income Fund Inc. $PFO

Closed End Fund Advisors Inc. purchased a new stake in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 96,222 shares of the company’s stock, valued at approximately $909,000. Closed End Fund Advisors Inc. owned approximately 0.74% of Flaherty & Crumrine Preferred and Income Fund as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PFO. Webster Bank N. A. bought a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 4th quarter valued at about $28,000. Raymond James Financial Inc. bought a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 2nd quarter valued at about $49,000. AlphaCore Capital LLC bought a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 4th quarter valued at about $127,000. NewEdge Advisors LLC boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 9.5% in the 2nd quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock valued at $287,000 after buying an additional 2,709 shares in the last quarter. Finally, Clifford Swan Investment Counsel LLC boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 96.7% in the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 29,500 shares of the company’s stock valued at $288,000 after buying an additional 14,500 shares in the last quarter. 12.90% of the stock is currently owned by institutional investors.

Flaherty & Crumrine Preferred and Income Fund Stock Down 0.4%

Shares of Flaherty & Crumrine Preferred and Income Fund stock opened at $9.09 on Friday. The company has a 50 day moving average price of $9.18 and a 200 day moving average price of $9.37. Flaherty & Crumrine Preferred and Income Fund Inc. has a 52 week low of $8.85 and a 52 week high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be given a $0.0556 dividend. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, July 24th.

Flaherty & Crumrine Preferred and Income Fund Profile

Flaherty & Crumrine Preferred and Income Fund (NYSE:PFO) is a closed-end management investment company designed to provide investors with a high level of current income. The fund focuses its portfolio primarily on preferred and participating securities, including traditional preferred shares, convertible preferred instruments, trust preferred issues and other hybrid securities issued by corporations and financial institutions.

Through broad diversification across industry sectors and geographies, PFO aims to manage credit and interest-rate risk while pursuing attractive yield opportunities.