Short Interest in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Declines By 47.8%

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 6,511 shares, a decrease of 47.8% from the April 30th total of 12,483 shares. Based on an average daily trading volume, of 19,259 shares, the short-interest ratio is currently 0.3 days.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.4%

NYSE PFD traded down $0.05 during trading hours on Monday, hitting $11.46. 11,185 shares of the company’s stock were exchanged, compared to its average volume of 22,496. The stock has a 50-day simple moving average of $11.42 and a 200 day simple moving average of $11.67. Flaherty & Crumrine Preferred Income Fund has a 1-year low of $10.97 and a 1-year high of $12.16.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be paid a dividend of $0.0689 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) annualized dividend and a yield of 7.2%.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Several large investors have recently added to or reduced their stakes in the business. Western Wealth Management LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the first quarter worth approximately $32,000. Fifth Third Bancorp acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the first quarter valued at approximately $98,000. Kestra Advisory Services LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the first quarter valued at approximately $128,000. Sit Investment Associates Inc. grew its stake in Flaherty & Crumrine Preferred Income Fund by 8.5% in the fourth quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock valued at $13,963,000 after acquiring an additional 91,962 shares during the period. Finally, 1607 Capital Partners LLC grew its stake in Flaherty & Crumrine Preferred Income Fund by 56.4% in the fourth quarter. 1607 Capital Partners LLC now owns 56,600 shares of the real estate investment trust’s stock valued at $672,000 after acquiring an additional 20,400 shares during the period.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income Fund (NYSE: PFD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income by investing primarily in preferred securities. The fund’s portfolio typically includes both U.S. and global preferred stocks, hybrid capital instruments and other fixed-income securities that pay fixed or adjustable dividends. It may also invest in investment-grade and below-investment-grade issues to capture yield opportunities across credit quality tiers.

Since its inception in 2006, PFD has aimed to deliver attractive after-tax total returns by actively managing interest-rate and credit-risk exposure.