Flaherty & Crumrine Preferred Income Fund Inc. (PFD) to Issue Monthly Dividend of $0.07 on March 31st

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) announced a monthly dividend on Friday, January 23rd. Shareholders of record on Tuesday, March 24th will be paid a dividend of 0.0672 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Tuesday, March 24th.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.9%

Shares of PFD stock opened at $11.22 on Friday. Flaherty & Crumrine Preferred Income Fund has a 12 month low of $10.22 and a 12 month high of $12.16. The stock has a 50 day moving average of $11.81 and a two-hundred day moving average of $11.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in Flaherty & Crumrine Preferred Income Fund in the third quarter worth about $5,305,000. MGO One Seven LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the third quarter valued at approximately $2,023,000. Fiera Capital Corp bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at approximately $1,196,000. Sit Investment Associates Inc. grew its stake in shares of Flaherty & Crumrine Preferred Income Fund by 8.5% in the 4th quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock valued at $13,963,000 after purchasing an additional 91,962 shares during the period. Finally, Calamos Advisors LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 3rd quarter worth approximately $629,000.

About Flaherty & Crumrine Preferred Income Fund

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.