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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 3,134 shares, a decrease of 75.6% from the July 30th total of 12,830 shares. Based on an average trading volume of 37,841 shares, the days-to-cover ratio is presently 0.1 days.

Flaherty & Crumrine Preferred Income Fund Price Performance

Shares of NYSE:PFD traded down $0.00 during midday trading on Thursday, hitting $11.28. 25,767 shares of the stock were exchanged, compared to its average volume of 24,304. Flaherty & Crumrine Preferred Income Fund has a 52-week low of $10.98 and a 52-week high of $12.16. The business’s fifty day simple moving average is $11.44 and its two-hundred day simple moving average is $11.51.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.0703 per share. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Friday, October 23rd.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. grew its position in 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 worth $2,006,000 after acquiring an additional 6,569 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 9.2% in 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 purchasing an additional 13,033 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in Flaherty & Crumrine Preferred Income Fund by 7.4% in the second quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock worth $1,015,000 after purchasing an additional 6,217 shares in the last quarter. CreativeOne Wealth LLC boosted 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 purchasing an additional 15,800 shares in the last quarter. Finally, Lido Advisors LLC increased its position in Flaherty & Crumrine Preferred Income Fund by 1.6% during the third quarter. Lido Advisors LLC now owns 66,880 shares of the real estate investment trust’s stock worth $804,000 after buying an additional 1,069 shares during the last quarter.

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.