Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Down 0.1% – Here’s Why

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) fell 0.1% during trading on Friday. The company traded as low as $10.32 and last traded at $10.35. 39,638 shares changed hands during trading, an increase of 44% from the average daily volume of 27,550 shares. The stock had previously closed at $10.36.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.1%

The business’s 50 day simple moving average is $10.69 and its 200 day simple moving average is $11.31.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be given a $0.0703 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date is Friday, November 20th.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bard Associates Inc. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter worth about $19,989,000. Bank of America Corp DE purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the second quarter worth about $5,951,000. Csenge Advisory Group purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the second quarter worth about $5,243,000. Fiduciary Financial Advisors bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter valued at approximately $720,000. Finally, Calamos Advisors LLC raised its stake in Flaherty & Crumrine Preferred Income Fund by 6.7% during the 3rd quarter. Calamos Advisors LLC now owns 43,867 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 2,742 shares during the period.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol PFD. The fund seeks to provide investors with a high level of current income and, secondarily, capital appreciation by investing primarily in preferred securities and other income-producing investments. The fund’s portfolio may include preferred stocks, preferred securities issued by financial institutions and utilities, corporate debt securities, convertible securities, and other fixed-income investments.