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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 12,882 shares, an increase of 97.8% from the May 14th total of 6,511 shares. Based on an average daily trading volume, of 32,163 shares, the short-interest ratio is presently 0.4 days.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.4%

Shares of NYSE:PFD traded up $0.05 during midday trading on Monday, reaching $11.46. The company had a trading volume of 17,422 shares, compared to its average volume of 22,313. The stock’s fifty day moving average price is $11.48 and its 200-day moving average price is $11.65. Flaherty & Crumrine Preferred Income Fund has a one year low of $10.98 and a one year high of $12.16.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

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

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Lido Advisors LLC increased its stake in Flaherty & Crumrine Preferred Income Fund by 1.6% during the third quarter. Lido Advisors LLC now owns 66,880 shares of the real estate investment trust’s stock valued at $804,000 after purchasing an additional 1,069 shares during the last quarter. Western Wealth Management LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the first quarter valued at $32,000. Osaic Holdings Inc. increased its stake in Flaherty & Crumrine Preferred Income Fund by 7.4% during the second quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock valued at $1,015,000 after purchasing an additional 6,217 shares during the last quarter. Raymond James Financial Inc. increased its stake in Flaherty & Crumrine Preferred Income Fund by 3.8% during the second quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock valued at $2,006,000 after purchasing an additional 6,569 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Flaherty & Crumrine Preferred Income Fund by 5.5% during the third quarter. Bank of America Corp DE now owns 163,028 shares of the real estate investment trust’s stock valued at $1,960,000 after purchasing an additional 8,450 shares during the last quarter.

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.