Flaherty & Crumrine Preferred Income Fund Inc. $PFD Shares Bought by Sit Investment Associates Inc.

Sit Investment Associates Inc. grew its position in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,176,356 shares of the real estate investment trust’s stock after buying an additional 91,962 shares during the quarter. Sit Investment Associates Inc.’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $13,963,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PFD. CIBC Bancorp USA Inc. acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter worth $5,305,000. Fiera Capital Corp purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter valued at approximately $1,196,000. 1607 Capital Partners LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter worth $435,000. LPL Financial LLC lifted its position in Flaherty & Crumrine Preferred Income Fund by 32.9% during the fourth quarter. LPL Financial LLC now owns 89,580 shares of the real estate investment trust’s stock worth $1,063,000 after buying an additional 22,173 shares during the period. Finally, Calamos Advisors LLC boosted its position in shares of Flaherty & Crumrine Preferred Income Fund by 32.1% in the fourth quarter. Calamos Advisors LLC now owns 69,159 shares of the real estate investment trust’s stock worth $821,000 after acquiring an additional 16,821 shares during the last quarter.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.3%

NYSE:PFD opened at $11.57 on Friday. Flaherty & Crumrine Preferred Income Fund Inc. has a fifty-two week low of $10.98 and a fifty-two week high of $12.16. The firm’s 50 day moving average is $11.49 and its two-hundred day moving average is $11.65.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be issued a dividend of $0.0689 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Friday, July 24th.

Flaherty & Crumrine Preferred Income Fund Profile

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.