Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Sees Significant Increase in Short Interest

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 20,814 shares, a growth of 1,055.0% from the August 31st total of 1,802 shares. Based on an average daily trading volume, of 30,118 shares, the short-interest ratio is presently 0.7 days.

Flaherty & Crumrine Preferred Income Fund Price Performance

Shares of NYSE PFD traded down $0.02 during trading on Thursday, hitting $10.89. The company had a trading volume of 23,290 shares, compared to its average volume of 25,644. Flaherty & Crumrine Preferred Income Fund has a 52 week low of $10.84 and a 52 week high of $12.13. The business’s 50-day moving average is $11.27 and its 200 day moving average is $11.39.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be issued a $0.0703 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Friday, October 23rd.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the second quarter valued at $194,000. Beacon Pointe Advisors LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 2nd quarter valued at $165,000. 49 Wealth Management LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 2nd quarter worth about $188,000. Bank of America Corp DE purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 2nd quarter worth about $1,972,000. Finally, Fiduciary Financial Advisors acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth about $720,000.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund Incorporated (NYSE: PFD) is a closed-end investment company that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The fund invests primarily in preferred securities and other income-producing investments.

Its portfolio may include preferred stocks, hybrid securities, corporate debt and other securities issued by companies in industries such as financial services, utilities, telecommunications and real estate.