Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Crosses Above 50 Day Moving Average – Here’s Why

Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.45 and traded as high as $11.49. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.45, with a volume of 22,414 shares changing hands.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.2%

The company’s fifty day moving average is $11.47 and its 200 day moving average is $11.66.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be issued a dividend of $0.0689 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 7.2%.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Lido Advisors LLC grew its holdings in Flaherty & Crumrine Preferred Income Fund by 1.6% in the 3rd quarter. Lido Advisors LLC now owns 66,880 shares of the real estate investment trust’s stock worth $804,000 after acquiring an additional 1,069 shares during the last quarter. Western Wealth Management LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund in the 1st quarter worth $32,000. Osaic Holdings Inc. grew its holdings in Flaherty & Crumrine Preferred Income Fund by 7.4% in the 2nd quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock worth $1,015,000 after acquiring an additional 6,217 shares during the last quarter. Raymond James Financial Inc. grew its holdings in 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. Finally, Bank of America Corp DE grew its holdings in Flaherty & Crumrine Preferred Income Fund by 5.5% in the 3rd quarter. Bank of America Corp DE now owns 163,028 shares of the real estate investment trust’s stock worth $1,960,000 after acquiring an additional 8,450 shares during the last quarter.

Flaherty & Crumrine Preferred Income Fund Company Profile

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.