Sit Investment Associates Inc. Boosts Stock Holdings in Flaherty & Crumrine Preferred and Income Fund Inc. $PFO

Sit Investment Associates Inc. raised its position in shares of Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,328,546 shares of the company’s stock after purchasing an additional 73,704 shares during the period. Sit Investment Associates Inc. owned 10.16% of Flaherty & Crumrine Preferred and Income Fund worth $12,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Webster Bank N. A. bought a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the 4th quarter worth $28,000. Raymond James Financial Inc. bought a new stake in Flaherty & Crumrine Preferred and Income Fund in the 2nd quarter valued at about $49,000. AlphaCore Capital LLC bought a new stake in Flaherty & Crumrine Preferred and Income Fund in the 4th quarter valued at about $127,000. Guggenheim Capital LLC purchased a new stake in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter valued at about $232,000. Finally, NewEdge Advisors LLC lifted its holdings in Flaherty & Crumrine Preferred and Income Fund by 9.5% during the second quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock valued at $287,000 after purchasing an additional 2,709 shares during the last quarter. 12.90% of the stock is currently owned by institutional investors.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.2%

Shares of NYSE:PFO opened at $9.23 on Friday. Flaherty & Crumrine Preferred and Income Fund Inc. has a twelve month low of $8.85 and a twelve month high of $9.90. The company has a 50-day moving average price of $9.20 and a two-hundred day moving average price of $9.35.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be paid a dividend of $0.0556 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Friday, July 24th.

Flaherty & Crumrine Preferred and Income Fund Company 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.