Sit Investment Associates Inc. Buys 91,962 Shares of Flaherty & Crumrine Preferred Income Fund Inc. $PFD

Sit Investment Associates Inc. increased its position in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,176,356 shares of the real estate investment trust’s stock after buying an additional 91,962 shares during the quarter. Sit Investment Associates Inc.’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $13,963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFD. Capital Investment Advisors LLC bought a new position in Flaherty & Crumrine Preferred Income Fund during the 4th quarter valued at approximately $149,000. Cary Street Partners Financial LLC lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 58.1% in the 4th quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 8,500 shares during the period. CreativeOne Wealth LLC lifted its holdings in Flaherty & Crumrine Preferred Income Fund by 154.9% in the third quarter. CreativeOne Wealth LLC now owns 26,000 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 15,800 shares during the period. 1607 Capital Partners LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter worth approximately $435,000. Finally, Lido Advisors LLC grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 1.6% during the 3rd 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 during the period.

Flaherty & Crumrine Preferred Income Fund Stock Performance

PFD opened at $11.42 on Friday. Flaherty & Crumrine Preferred Income Fund Inc. has a 52 week low of $10.98 and a 52 week high of $12.16. The business has a 50 day moving average of $11.47 and a 200-day moving average of $11.66.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be given a $0.0689 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%.

Flaherty & Crumrine Preferred Income Fund Profile

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.