Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Up 140.4% in March

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 25,000 shares, an increase of 140.4% from the February 28th total of 10,400 shares. Based on an average trading volume of 27,800 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds have recently modified their holdings of the stock. Noble Wealth Management PBC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at about $31,000. McClarren Financial Advisors Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth $39,000. Pathway Financial Advisers LLC lifted its holdings in Flaherty & Crumrine Preferred Income Fund by 88.6% in the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 2,974 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 11.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 1,919 shares during the period. Finally, Guggenheim Capital LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at about $228,000.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.1 %

Shares of NYSE PFD opened at $11.21 on Friday. Flaherty & Crumrine Preferred Income Fund has a 12-month low of $9.80 and a 12-month high of $12.08. The stock has a 50 day simple moving average of $11.29 and a 200-day simple moving average of $11.46.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.061 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.73 annualized dividend and a dividend yield of 6.53%.

About Flaherty & Crumrine Preferred Income Fund

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.