Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Down 0.1% – Here’s Why

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) shares traded down 0.1% during mid-day trading on Friday. The company traded as low as $10.32 and last traded at $10.35. 39,638 shares changed hands during trading, an increase of 44% from the average daily volume of 27,550 shares. The stock had previously closed at $10.36.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.1%

The firm’s 50-day moving average price is $10.69 and its 200-day moving average price is $11.31.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a dividend of $0.0703 per share. The ex-dividend date is Friday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.2%.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Institutional investors have recently bought and sold shares of the stock. Calamos Advisors LLC increased its holdings in Flaherty & Crumrine Preferred Income Fund by 6.7% in the 3rd quarter. Calamos Advisors LLC now owns 43,867 shares of the real estate investment trust’s stock valued at $472,000 after acquiring an additional 2,742 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter worth $153,000. Capital Investment Advisors LLC boosted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 18.9% during the 3rd quarter. Capital Investment Advisors LLC now owns 26,937 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 4,286 shares during the last quarter. Wedbush Securities Inc. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter valued at about $181,000. Finally, CoreCap Advisors LLC boosted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 130.0% during the 3rd quarter. CoreCap Advisors LLC now owns 2,300 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,300 shares during the last quarter.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol PFD. The fund seeks to provide investors with a high level of current income and, secondarily, capital appreciation by investing primarily in preferred securities and other income-producing investments. The fund’s portfolio may include preferred stocks, preferred securities issued by financial institutions and utilities, corporate debt securities, convertible securities, and other fixed-income investments.