Short Interest in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Declines By 62.6%

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the target of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 10,019 shares, a decline of 62.6% from the January 29th total of 26,808 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 36,167 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 36,167 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred and Income Fund

A number of institutional investors have recently bought and sold shares of PFO. Sit Investment Associates Inc. increased its position in Flaherty & Crumrine Preferred and Income Fund by 5.9% during the fourth quarter. Sit Investment Associates Inc. now owns 1,328,546 shares of the company’s stock worth $12,555,000 after purchasing an additional 73,704 shares during the last quarter. Rivernorth Capital Management LLC grew its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 62.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 111,745 shares of the company’s stock valued at $1,056,000 after buying an additional 43,033 shares during the period. Mustico Financial Group Inc. increased its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 6.3% during the 4th quarter. Mustico Financial Group Inc. now owns 81,339 shares of the company’s stock worth $770,000 after buying an additional 4,788 shares during the last quarter. 1607 Capital Partners LLC raised its position in shares of Flaherty & Crumrine Preferred and Income Fund by 32.5% in the 4th quarter. 1607 Capital Partners LLC now owns 263,244 shares of the company’s stock worth $2,488,000 after buying an additional 64,634 shares during the period. Finally, Guggenheim Capital LLC acquired a new position in Flaherty & Crumrine Preferred and Income Fund in the fourth quarter valued at $232,000. 12.90% of the stock is currently owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

NYSE PFO opened at $9.58 on Thursday. The business’s 50-day moving average price is $9.56 and its 200 day moving average price is $9.56. Flaherty & Crumrine Preferred and Income Fund has a twelve month low of $8.01 and a twelve month high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 23rd will be issued a dividend of $0.0546 per share. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Thursday, April 23rd.

Flaherty & Crumrine Preferred and Income Fund Company Profile

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.