Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.54 and traded as low as $11.27. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.3240, with a volume of 23,365 shares.

Flaherty & Crumrine Preferred Income Fund Price Performance

The business’s 50-day simple moving average is $11.46 and its 200-day simple moving average is $11.53.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be given a $0.0703 dividend. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, October 23rd.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. lifted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 3.8% in the 2nd 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. Bank of America Corp DE grew its position in Flaherty & Crumrine Preferred Income Fund by 9.2% in the 2nd quarter. Bank of America Corp DE now owns 154,578 shares of the real estate investment trust’s stock worth $1,748,000 after purchasing an additional 13,033 shares during the last quarter. 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 acquiring an additional 6,217 shares during the period. CreativeOne Wealth LLC raised its holdings in Flaherty & Crumrine Preferred Income Fund by 154.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 26,000 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 15,800 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 1.6% in the 3rd quarter. Lido Advisors LLC now owns 66,880 shares of the real estate investment trust’s stock worth $804,000 after acquiring an additional 1,069 shares during the period.

Flaherty & Crumrine Preferred Income Fund Company 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.