Csenge Advisory Group Acquires Shares of 322,022 Flaherty & Crumrine Preferred Income Fund Inc. $PFD

Csenge Advisory Group acquired a new stake in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 322,022 shares of the real estate investment trust’s stock, valued at approximately $5,243,000.

A number of other hedge funds have also modified their holdings of PFD. Western Wealth Management LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 1st quarter worth about $32,000. Fifth Third Bancorp acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the first quarter worth approximately $98,000. Kestra Advisory Services LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the first quarter valued at approximately $128,000. BlackRock Inc. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter valued at approximately $134,000. Finally, Tiemann Investment Advisors LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 2nd quarter worth approximately $251,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of PFD stock opened at $11.32 on Thursday. Flaherty & Crumrine Preferred Income Fund Inc. has a 52 week low of $10.98 and a 52 week high of $12.16. The stock’s fifty day moving average is $11.46 and its 200-day moving average is $11.53.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be issued a dividend of $0.0703 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a c) dividend on an annualized basis and a yield of 7.5%.

Flaherty & Crumrine Preferred Income Fund 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.