Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Pass Above 50-Day Moving Average – Time to Sell?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.45 and traded as high as $11.49. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.45, with a volume of 22,414 shares trading hands.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.2%

The stock has a 50 day moving average of $11.45 and a two-hundred day moving average of $11.66.

Flaherty & Crumrine Preferred 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 $0.0689 dividend. The ex-dividend date is Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

A number of institutional investors have recently modified their holdings of the business. Sit Investment Associates Inc. boosted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 8.5% in the fourth quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock valued at $13,963,000 after buying an additional 91,962 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the third quarter valued at approximately $5,305,000. Fiera Capital Corp boosted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 80.8% in the fourth quarter. Fiera Capital Corp now owns 179,838 shares of the real estate investment trust’s stock valued at $2,135,000 after buying an additional 80,344 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of 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 valued at $2,006,000 after buying an additional 6,569 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of 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 valued at $1,960,000 after buying an additional 8,450 shares in the last quarter.

Flaherty & Crumrine Preferred Income Fund Company 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.