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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 25,428 shares, an increase of 97.4% from the May 31st total of 12,882 shares. Based on an average trading volume of 19,580 shares, the short-interest ratio is currently 1.3 days.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.2%

PFD traded down $0.03 during trading on Wednesday, reaching $11.60. The company’s stock had a trading volume of 9,029 shares, compared to its average volume of 22,704. The firm has a fifty day simple moving average of $11.50 and a two-hundred day simple moving average of $11.63. Flaherty & Crumrine Preferred Income Fund has a 1 year low of $10.98 and a 1 year high of $12.16.

Flaherty & Crumrine Preferred 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 dividend of $0.0689 per share. The ex-dividend date is Friday, July 24th. This represents a c) dividend on an annualized basis and a yield of 7.1%.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. increased its stake in shares of Flaherty & Crumrine Preferred Income Fund by 3.8% in the 2nd quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock worth $2,006,000 after acquiring an additional 6,569 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Flaherty & Crumrine Preferred Income Fund by 9.2% during the 2nd quarter. Bank of America Corp DE now owns 154,578 shares of the real estate investment trust’s stock valued at $1,748,000 after acquiring an additional 13,033 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of Flaherty & Crumrine Preferred Income Fund by 7.4% during the 2nd quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock valued at $1,015,000 after acquiring an additional 6,217 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of 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 valued at $313,000 after purchasing an additional 15,800 shares during the period. Finally, 1607 Capital Partners LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the third quarter worth about $435,000.

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.