Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Down 42.5% in August

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 1,802 shares, a decrease of 42.5% from the August 15th total of 3,134 shares. Based on an average daily trading volume, of 32,286 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bard Associates Inc. acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 2nd quarter valued at approximately $19,989,000. Sit Investment Associates Inc. grew its position in shares of Flaherty & Crumrine Preferred Income Fund by 8.5% during the fourth quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock worth $13,963,000 after buying an additional 91,962 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the second quarter worth approximately $5,951,000. Csenge Advisory Group bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter worth $5,243,000. Finally, Fiera Capital Corp raised its holdings in Flaherty & Crumrine Preferred Income Fund by 80.8% in the fourth quarter. Fiera Capital Corp now owns 179,838 shares of the real estate investment trust’s stock valued at $2,135,000 after acquiring an additional 80,344 shares in the last quarter.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.1%

Shares of Flaherty & Crumrine Preferred Income Fund stock traded up $0.01 during trading hours on Wednesday, hitting $10.95. 28,372 shares of the company’s stock traded hands, compared to its average volume of 24,809. Flaherty & Crumrine Preferred Income Fund has a twelve month low of $10.90 and a twelve month high of $12.16. The stock has a 50 day simple moving average of $11.35 and a 200-day simple moving average of $11.43.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, October 23rd. This represents a c) dividend on an annualized basis and a yield of 7.7%.

Flaherty & Crumrine Preferred Income Fund Company 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.