Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Short Interest Down 29.8% in December

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 11,668 shares, a drop of 29.8% from the December 15th total of 16,611 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 36,289 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 36,289 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFO. Ameritas Advisory Services LLC purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 2nd quarter worth about $32,000. Wolverine Asset Management LLC acquired a new position in Flaherty & Crumrine Preferred and Income Fund in the 2nd quarter worth about $365,000. Envestnet Asset Management Inc. boosted its position in Flaherty & Crumrine Preferred and Income Fund by 4.6% during the second quarter. Envestnet Asset Management Inc. now owns 138,408 shares of the company’s stock worth $1,280,000 after purchasing an additional 6,058 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Flaherty & Crumrine Preferred and Income Fund by 21.6% in the second quarter. D.A. Davidson & CO. now owns 77,228 shares of the company’s stock valued at $714,000 after purchasing an additional 13,701 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Flaherty & Crumrine Preferred and Income Fund in the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

NYSE:PFO remained flat at $9.55 during trading hours on Friday. The company’s stock had a trading volume of 11,948 shares, compared to its average volume of 27,980. Flaherty & Crumrine Preferred and Income Fund has a one year low of $8.01 and a one year high of $9.90. The stock has a fifty day moving average price of $9.48 and a 200 day moving average price of $9.48.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 23rd will be issued a dividend of $0.0546 per share. The ex-dividend date of this dividend is Friday, January 23rd. This represents a c) dividend on an annualized basis and a yield of 6.9%.

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.