Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Short Interest Down 29.8% in December

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 11,668 shares, a decline of 29.8% from the December 15th total of 16,611 shares. Based on an average daily volume of 36,289 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 36,289 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred and Income Fund

A number of large investors have recently made changes to their positions in PFO. Ameritas Advisory Services LLC purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 2nd quarter worth approximately $32,000. Raymond James Financial Inc. acquired a new position in Flaherty & Crumrine Preferred and Income Fund during the second quarter worth $49,000. NewEdge Advisors LLC boosted its position in Flaherty & Crumrine Preferred and Income Fund by 9.5% during the second quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock worth $287,000 after purchasing an additional 2,709 shares in the last quarter. Clifford Swan Investment Counsel LLC grew its stake in Flaherty & Crumrine Preferred and Income Fund by 96.7% in the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 29,500 shares of the company’s stock valued at $288,000 after acquiring an additional 14,500 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Flaherty & Crumrine Preferred and Income Fund during the second quarter worth about $365,000. Hedge funds and other institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Price Performance

Shares of PFO remained flat at $9.55 during mid-day trading on Friday. The stock had a trading volume of 11,948 shares, compared to its average volume of 27,980. Flaherty & Crumrine Preferred and Income Fund has a 1-year low of $8.01 and a 1-year high of $9.90. The business has a fifty day moving average of $9.48 and a 200-day moving average of $9.48.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 23rd will be given a dividend of $0.0546 per share. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, January 23rd.

About Flaherty & Crumrine Preferred and Income Fund

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.