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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 10,400 shares, a decline of 32.9% from the February 13th total of 15,500 shares. Based on an average daily volume of 28,500 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in PFD. Noble Wealth Management PBC acquired a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at $31,000. McClarren Financial Advisors Inc. bought a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at approximately $39,000. Pathway Financial Advisers LLC boosted its position in Flaherty & Crumrine Preferred Income Fund by 88.6% in the fourth quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 2,974 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Flaherty & Crumrine Preferred Income Fund by 11.1% during the fourth 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 last quarter. Finally, Guggenheim Capital LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth $228,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

PFD stock traded up $0.03 during trading hours on Friday, reaching $11.26. The stock had a trading volume of 6,903 shares, compared to its average volume of 32,687. The stock has a 50-day simple moving average of $11.28 and a 200 day simple moving average of $11.47. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $9.80 and a fifty-two week high of $12.08.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be issued a dividend of $0.061 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.50%. The ex-dividend date of this dividend is Wednesday, April 23rd.

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.