Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Down 32.5% in January

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 10,400 shares, a decrease of 32.5% from the January 15th total of 15,400 shares. Based on an average trading volume of 29,000 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Noble Wealth Management PBC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth $31,000. McClarren Financial Advisors Inc. purchased a new position in Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth about $39,000. Pathway Financial Advisers LLC raised its stake in Flaherty & Crumrine Preferred Income Fund by 88.6% during the fourth 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 period. Ellis Investment Partners LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at about $125,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Flaherty & Crumrine Preferred Income Fund by 11.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock valued at $215,000 after buying an additional 1,919 shares during the period.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.4 %

PFD stock traded up $0.05 during mid-day trading on Friday, reaching $11.44. The company’s stock had a trading volume of 17,422 shares, compared to its average volume of 26,654. The company’s 50 day moving average is $11.30 and its two-hundred day moving average is $11.43. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $9.80 and a fifty-two week high of $12.08.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a dividend of $0.061 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.73 dividend on an annualized basis and a yield of 6.40%.

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.