Flaherty & Crumrine Preferred and Income Fund (NYSE:PFO) Trading Down 0.2% – Time to Sell?

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO)’s share price traded down 0.2% during trading on Friday . The stock traded as low as $9.18 and last traded at $9.19. 8,951 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 15,746 shares. The stock had previously closed at $9.21.

Flaherty & Crumrine Preferred and Income Fund Trading Down 0.2%

The firm has a 50-day moving average of $9.17 and a two-hundred day moving average of $9.32.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be paid a dividend of $0.0556 per share. This represents a c) annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Friday, July 24th.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

Hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. grew its position in Flaherty & Crumrine Preferred and Income Fund by 5.9% during the fourth quarter. Sit Investment Associates Inc. now owns 1,328,546 shares of the company’s stock valued at $12,555,000 after purchasing an additional 73,704 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 3rd quarter valued at $5,738,000. Pathstone Holdings LLC acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 3rd quarter valued at $3,073,000. Advisors Asset Management Inc. grew its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 228.6% during the 4th quarter. Advisors Asset Management Inc. now owns 309,687 shares of the company’s stock valued at $2,927,000 after acquiring an additional 215,441 shares in the last quarter. Finally, 1607 Capital Partners LLC increased its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 32.5% in the fourth quarter. 1607 Capital Partners LLC now owns 263,244 shares of the company’s stock worth $2,488,000 after acquiring an additional 64,634 shares during the last quarter. 12.90% of the stock is owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred and Income Fund Company Profile

Flaherty & Crumrine Preferred and Income Fund (NYSE:PFO) is a closed-end management investment company designed to provide investors with a high level of current income. The fund focuses its portfolio primarily on preferred and participating securities, including traditional preferred shares, convertible preferred instruments, trust preferred issues and other hybrid securities issued by corporations and financial institutions.

Through broad diversification across industry sectors and geographies, PFO aims to manage credit and interest-rate risk while pursuing attractive yield opportunities.