Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Down 32.9% in February

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 10,400 shares, a decline of 32.9% from the February 13th total of 15,500 shares. Based on an average trading volume of 28,500 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Institutional investors have recently modified their holdings of the company. Noble Wealth Management PBC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at about $31,000. McClarren Financial Advisors Inc. bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at about $39,000. Pathway Financial Advisers LLC lifted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 88.6% in the fourth quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 2,974 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 11.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock valued at $215,000 after purchasing 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

Shares of Flaherty & Crumrine Preferred Income Fund stock traded up $0.02 during trading on Monday, reaching $11.28. The stock had a trading volume of 3,918 shares, compared to its average volume of 32,572. The stock has a fifty day moving average price of $11.28 and a two-hundred day moving average price 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 company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be issued a $0.061 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.49%.

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.