Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Down 42.5% in August

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 1,802 shares, a drop of 42.5% from the August 15th total of 3,134 shares. Based on an average daily trading volume, of 32,286 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

A number of institutional investors have recently added to or reduced their stakes in the business. Western Wealth Management LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the first quarter worth about $32,000. Allworth Financial LP acquired a new position in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. acquired a new position in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth approximately $43,000. Fifth Third Bancorp purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 1st quarter worth approximately $98,000. Finally, Kestra Advisory Services LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 1st quarter worth approximately $128,000.

Flaherty & Crumrine Preferred Income Fund Price Performance

PFD traded up $0.01 during trading on Wednesday, hitting $10.95. 28,372 shares of the company’s stock were exchanged, compared to its average volume of 24,809. Flaherty & Crumrine Preferred Income Fund has a 1 year low of $10.90 and a 1 year high of $12.16. The stock has a 50 day moving average price of $11.35 and a 200 day moving average price of $11.43.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be issued a dividend of $0.0703 per share. The ex-dividend date is Friday, October 23rd. This represents a c) annualized dividend and a dividend yield of 7.7%.

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.