Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Short Interest Update

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 11,848 shares, a growth of 66.6% from the February 26th total of 7,112 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 37,159 shares, the short-interest ratio is presently 0.3 days.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

Shares of PFO stock traded down $0.14 during trading hours on Friday, reaching $8.87. The company had a trading volume of 69,147 shares, compared to its average volume of 32,239. Flaherty & Crumrine Preferred and Income Fund has a 1-year low of $8.01 and a 1-year high of $9.90. The company has a 50 day moving average of $9.45 and a 200 day moving average of $9.54.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be paid a $0.0546 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a c) annualized dividend and a yield of 7.4%.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred and Income Fund

Several institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC increased its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 191,153 shares of the company’s stock valued at $1,864,000 after acquiring an additional 1,745 shares during the last quarter. TrueMark Investments LLC grew its holdings in Flaherty & Crumrine Preferred and Income Fund by 2.9% during the fourth quarter. TrueMark Investments LLC now owns 70,697 shares of the company’s stock valued at $668,000 after purchasing an additional 1,985 shares during the period. Wells Fargo & Company MN grew its holdings in Flaherty & Crumrine Preferred and Income Fund by 6.0% during the fourth quarter. Wells Fargo & Company MN now owns 47,000 shares of the company’s stock valued at $444,000 after purchasing an additional 2,668 shares during the period. NewEdge Advisors LLC increased its stake in Flaherty & Crumrine Preferred and Income Fund by 9.5% in the second quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock valued at $287,000 after purchasing an additional 2,709 shares in the last quarter. Finally, Webster Bank N. A. bought a new stake in Flaherty & Crumrine Preferred and Income Fund in the fourth quarter valued at approximately $28,000. 12.90% of the stock is currently owned by institutional investors and hedge funds.

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.