Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Update

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 21,999 shares, a decrease of 32.1% from the June 30th total of 32,393 shares. Based on an average daily trading volume, of 23,541 shares, the short-interest ratio is currently 0.9 days.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.1%

Shares of PFD stock traded up $0.01 during mid-day trading on Friday, reaching $11.34. 34,889 shares of the company were exchanged, compared to its average volume of 22,962. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $10.98 and a fifty-two week high of $12.16. The business’s 50 day simple moving average is $11.48 and its 200 day simple moving average is $11.58.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be paid a $0.0703 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Friday, October 23rd.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Western Wealth Management LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the first quarter worth approximately $32,000. Fifth Third Bancorp bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 1st quarter valued at $98,000. Kestra Advisory Services LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 1st quarter valued at $128,000. Capital Investment Advisors LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 4th quarter valued at $149,000. Finally, Cary Street Partners Financial LLC boosted its position in Flaherty & Crumrine Preferred Income Fund by 58.1% during 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 acquiring an additional 8,500 shares during the period.

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.