Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.62 and traded as low as $11.54. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.5560, with a volume of 25,650 shares trading hands.

Flaherty & Crumrine Preferred Income Fund Stock Performance

The business has a 50 day moving average price of $11.50 and a 200-day moving average price of $11.62.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

A number of large investors have recently added to or reduced their stakes in PFD. Sit Investment Associates Inc. grew its position in shares of Flaherty & Crumrine Preferred Income Fund by 8.5% in the 4th quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock valued at $13,963,000 after acquiring an additional 91,962 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at about $5,305,000. Fiera Capital Corp lifted its stake in Flaherty & Crumrine Preferred Income Fund by 80.8% in the 4th quarter. Fiera Capital Corp now owns 179,838 shares of the real estate investment trust’s stock valued at $2,135,000 after purchasing an additional 80,344 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Flaherty & Crumrine Preferred Income Fund by 3.8% in the 2nd quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock valued at $2,006,000 after purchasing an additional 6,569 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Flaherty & Crumrine Preferred Income Fund by 5.5% during the third quarter. Bank of America Corp DE now owns 163,028 shares of the real estate investment trust’s stock worth $1,960,000 after purchasing an additional 8,450 shares during the period.

About Flaherty & Crumrine Preferred Income Fund

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.