Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Passes Above 50-Day Moving Average – Here’s Why

Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.41 and traded as high as $11.46. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.40, with a volume of 28,894 shares.

Flaherty & Crumrine Preferred Income Fund Stock Performance

The business has a 50-day moving average price of $11.41 and a two-hundred day moving average price of $11.68.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be given a dividend of $0.0689 per share. The ex-dividend date is Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Institutional investors have recently made changes to their positions in the stock. Fiera Capital Corp acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter worth $1,196,000. Smith Asset Management Co. LLC grew its stake in shares of Flaherty & Crumrine Preferred Income Fund by 40.5% during the third quarter. Smith Asset Management Co. LLC now owns 106,993 shares of the real estate investment trust’s stock worth $1,214,000 after purchasing an additional 30,861 shares during the period. Bank of America Corp DE grew its stake in shares of Flaherty & Crumrine Preferred Income Fund by 9.2% during the second quarter. Bank of America Corp DE now owns 154,578 shares of the real estate investment trust’s stock worth $1,748,000 after purchasing an additional 13,033 shares during the period. LPL Financial LLC grew its stake in shares of Flaherty & Crumrine Preferred Income Fund by 32.9% during the fourth quarter. LPL Financial LLC now owns 89,580 shares of the real estate investment trust’s stock worth $1,063,000 after purchasing an additional 22,173 shares during the period. Finally, Lido Advisors LLC grew its stake in shares of Flaherty & Crumrine Preferred Income Fund by 1.6% during the third quarter. Lido Advisors LLC now owns 66,880 shares of the real estate investment trust’s stock worth $804,000 after purchasing an additional 1,069 shares during the period.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund (NYSE: PFD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income by investing primarily in preferred securities. The fund’s portfolio typically includes both U.S. and global preferred stocks, hybrid capital instruments and other fixed-income securities that pay fixed or adjustable dividends. It may also invest in investment-grade and below-investment-grade issues to capture yield opportunities across credit quality tiers.

Since its inception in 2006, PFD has aimed to deliver attractive after-tax total returns by actively managing interest-rate and credit-risk exposure.