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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 15,500 shares, a growth of 49.0% from the January 31st total of 10,400 shares. Based on an average trading volume of 28,700 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Several large investors have recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth approximately $31,000. McClarren Financial Advisors Inc. purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at $39,000. Pathway Financial Advisers LLC boosted its stake in Flaherty & Crumrine Preferred Income Fund by 88.6% during the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 2,974 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 11.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 1,919 shares in the last quarter. Finally, Guggenheim Capital LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at about $228,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

PFD traded down $0.07 during midday trading on Tuesday, hitting $11.21. 57,237 shares of the company traded hands, compared to its average volume of 28,725. The business has a 50 day simple moving average of $11.27 and a two-hundred day simple moving average of $11.47. Flaherty & Crumrine Preferred Income Fund has a 52-week low of $9.80 and a 52-week high of $12.08.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be paid a $0.061 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date is Wednesday, April 23rd.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.