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

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 26,808 shares, a growth of 88.3% from the January 15th total of 14,238 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 28,168 shares, the short-interest ratio is currently 1.0 days. Based on an average trading volume of 28,168 shares, the short-interest ratio is currently 1.0 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PFO. Wolverine Asset Management LLC acquired a new stake in Flaherty & Crumrine Preferred and Income Fund in the second quarter worth approximately $365,000. TrueMark Investments LLC bought a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 3rd quarter worth $670,000. Envestnet Asset Management Inc. lifted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 4.6% in the second quarter. Envestnet Asset Management Inc. now owns 138,408 shares of the company’s stock valued at $1,280,000 after buying an additional 6,058 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 21.6% in the second quarter. D.A. Davidson & CO. now owns 77,228 shares of the company’s stock valued at $714,000 after buying an additional 13,701 shares during the period. Finally, AlphaCore Capital LLC bought a new position in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter valued at about $127,000. 12.90% of the stock is currently owned by institutional investors.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.2%

Shares of NYSE:PFO traded up $0.02 on Friday, hitting $9.67. The company’s stock had a trading volume of 43,868 shares, compared to its average volume of 29,974. Flaherty & Crumrine Preferred and Income Fund has a 12 month low of $8.01 and a 12 month high of $9.90. The stock’s 50-day moving average is $9.53 and its two-hundred day moving average is $9.54.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

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

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.