Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Up 166.4% in December

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 30,900 shares, an increase of 166.4% from the November 30th total of 11,600 shares. Based on an average trading volume of 29,000 shares, the days-to-cover ratio is presently 1.1 days.

Flaherty & Crumrine Preferred Income Fund Price Performance

Shares of NYSE PFD traded down $0.14 during midday trading on Friday, hitting $11.02. 24,158 shares of the company’s stock traded hands, compared to its average volume of 33,171. The firm has a fifty day moving average of $11.43 and a 200 day moving average of $11.25. Flaherty & Crumrine Preferred Income Fund has a 1 year low of $9.80 and a 1 year high of $12.08.

Flaherty & Crumrine Preferred Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.36 annualized dividend and a yield of 3.27%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter worth about $35,000. First National Trust Co bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth approximately $110,000. Matisse Capital lifted its holdings in Flaherty & Crumrine Preferred Income Fund by 564.1% during the second quarter. Matisse Capital now owns 140,368 shares of the real estate investment trust’s stock valued at $1,465,000 after purchasing an additional 119,230 shares in the last quarter. Arrow Financial Corp bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter worth approximately $40,000. Finally, Private Wealth Strategies L.L.C. increased its stake in shares of Flaherty & Crumrine Preferred Income Fund by 1.7% in the second quarter. Private Wealth Strategies L.L.C. now owns 68,628 shares of the real estate investment trust’s stock worth $716,000 after purchasing an additional 1,139 shares in the last quarter.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.