Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.46 and traded as low as $11.19. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.33, with a volume of 26,171 shares.

Flaherty & Crumrine Preferred Income Fund Stock Performance

The business’s fifty day moving average price is $11.30 and its two-hundred day moving average price is $11.46.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend yield of 6.50%. The ex-dividend date of this dividend is Wednesday, April 23rd.

Institutional Inflows and Outflows

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

Flaherty & Crumrine Preferred Income Fund Company Profile

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.