TrueMark Investments LLC Takes $670,000 Position in Flaherty & Crumrine Preferred and Income Fund Inc. $PFO

TrueMark Investments LLC bought a new stake in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) during the third quarter, Holdings Channel reports. The institutional investor bought 68,712 shares of the company’s stock, valued at approximately $670,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new stake in Flaherty & Crumrine Preferred and Income Fund during the 2nd quarter worth $32,000. Raymond James Financial Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the second quarter valued at about $49,000. NewEdge Advisors LLC raised its holdings in shares of 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 buying an additional 2,709 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the second quarter valued at about $365,000. Finally, Baird Financial Group Inc. boosted its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 37.4% during the second quarter. Baird Financial Group Inc. now owns 42,878 shares of the company’s stock worth $397,000 after buying an additional 11,682 shares during the period. Hedge funds and other institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Price Performance

NYSE PFO opened at $9.59 on Friday. Flaherty & Crumrine Preferred and Income Fund Inc. has a 52-week low of $8.01 and a 52-week high of $9.90. The business’s 50-day moving average price is $9.48 and its 200 day moving average price is $9.49.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 23rd will be issued a $0.0546 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%.

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.