Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Update

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 21,999 shares, a decrease of 32.1% from the June 30th total of 32,393 shares. Based on an average daily trading volume, of 23,541 shares, the days-to-cover ratio is currently 0.9 days.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.5%

NYSE PFD opened at $11.32 on Friday. Flaherty & Crumrine Preferred Income Fund has a 52 week low of $10.98 and a 52 week high of $12.16. The stock’s 50-day moving average price is $11.48 and its 200-day moving average price is $11.58.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The company 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 c) annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, October 23rd.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Several large investors have recently added to or reduced their stakes in PFD. Lido Advisors LLC increased its stake in shares of Flaherty & Crumrine Preferred Income Fund by 1.6% in the third quarter. Lido Advisors LLC now owns 66,880 shares of the real estate investment trust’s stock worth $804,000 after purchasing an additional 1,069 shares in the last quarter. Western Wealth Management LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 1st quarter valued at $32,000. Osaic Holdings Inc. boosted its holdings in Flaherty & Crumrine Preferred Income Fund by 7.4% in the 2nd quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock worth $1,015,000 after buying an additional 6,217 shares during the period. Raymond James Financial Inc. boosted its holdings in Flaherty & Crumrine Preferred Income Fund by 3.8% in the 2nd quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock worth $2,006,000 after buying an additional 6,569 shares during the period. Finally, Bank of America Corp DE increased its stake in Flaherty & Crumrine Preferred Income Fund by 5.5% in the 3rd quarter. Bank of America Corp DE now owns 163,028 shares of the real estate investment trust’s stock worth $1,960,000 after buying an additional 8,450 shares in the last quarter.

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.