Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Short Interest Down 29.0% in February

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the recipient of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 7,112 shares, a decrease of 29.0% from the February 12th total of 10,019 shares. Based on an average daily trading volume, of 27,673 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 27,673 shares, the short-interest ratio is presently 0.3 days.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

Shares of NYSE PFO traded up $0.01 during midday trading on Monday, hitting $9.19. The stock had a trading volume of 24,348 shares, compared to its average volume of 30,358. The stock has a 50 day simple moving average of $9.54 and a 200-day simple moving average of $9.56. Flaherty & Crumrine Preferred and Income Fund has a 1 year low of $8.01 and a 1 year high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, April 23rd. This represents a c) dividend on an annualized basis and a yield of 7.1%.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Webster Bank N. A. acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 4th quarter worth about $28,000. Raymond James Financial Inc. purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the second quarter worth about $49,000. AlphaCore Capital LLC acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the fourth quarter valued at about $127,000. Guggenheim Capital LLC purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 4th quarter valued at approximately $232,000. Finally, NewEdge Advisors LLC raised its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 9.5% in the 2nd quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock valued at $287,000 after acquiring an additional 2,709 shares during the period. Institutional investors and hedge funds own 12.90% of the company’s stock.

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.