Wolverine Asset Management LLC Has $1.09 Million Stock Position in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Wolverine Asset Management LLC lessened its stake in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 3.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 110,200 shares of the real estate investment trust’s stock after selling 3,850 shares during the quarter. Wolverine Asset Management LLC’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $1,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates lifted its stake in Flaherty & Crumrine Preferred Income Fund by 32.7% in the fourth quarter. Raymond James & Associates now owns 22,307 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 5,500 shares during the last quarter. Saba Capital Management L.P. acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at about $232,000. D.A. Davidson & CO. lifted its stake in Flaherty & Crumrine Preferred Income Fund by 10.3% in the 3rd quarter. D.A. Davidson & CO. now owns 30,715 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 2,864 shares during the last quarter. Robinson Capital Management LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at about $358,000. Finally, AQR Arbitrage LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at about $403,000.

Flaherty & Crumrine Preferred Income Fund Trading Down 1.3 %

Shares of NYSE:PFD opened at $9.92 on Friday. Flaherty & Crumrine Preferred Income Fund Inc. has a 52-week low of $8.53 and a 52-week high of $10.92. The company has a 50-day simple moving average of $10.28 and a 200 day simple moving average of $9.92.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 24th will be paid a $0.0583 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.70 annualized dividend and a yield of 7.05%.

Flaherty & Crumrine Preferred Income Fund Profile

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.