Short Interest in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Decreases By 62.6%

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the recipient of a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 10,019 shares, a decrease of 62.6% from the January 29th total of 26,808 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 36,167 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 36,167 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred and Income Fund

A number of large investors have recently bought and sold shares of PFO. Sit Investment Associates Inc. raised its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 5.9% in the fourth quarter. Sit Investment Associates Inc. now owns 1,328,546 shares of the company’s stock worth $12,555,000 after acquiring an additional 73,704 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Flaherty & Crumrine Preferred and Income Fund during the 3rd quarter worth about $5,738,000. Pathstone Holdings LLC acquired a new position in Flaherty & Crumrine Preferred and Income Fund in the 3rd quarter valued at about $3,073,000. Advisors Asset Management Inc. lifted its holdings in Flaherty & Crumrine Preferred and Income Fund by 228.6% in the 4th quarter. Advisors Asset Management Inc. now owns 309,687 shares of the company’s stock valued at $2,927,000 after purchasing an additional 215,441 shares in the last quarter. Finally, 1607 Capital Partners LLC lifted its holdings in Flaherty & Crumrine Preferred and Income Fund by 32.5% in the 4th quarter. 1607 Capital Partners LLC now owns 263,244 shares of the company’s stock valued at $2,488,000 after purchasing an additional 64,634 shares in the last quarter. Institutional investors and hedge funds own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

Shares of PFO opened at $9.58 on Thursday. The company has a 50-day moving average of $9.56 and a two-hundred day moving average of $9.56. Flaherty & Crumrine Preferred and Income Fund has a 12-month low of $8.01 and a 12-month high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 23rd will be given a dividend of $0.0546 per share. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Thursday, April 23rd.

About Flaherty & Crumrine Preferred and Income Fund

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.