Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Declares $0.05 Monthly Dividend

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) declared a monthly dividend on Friday, January 23rd. Investors of record on Tuesday, March 24th will be paid a dividend of 0.0546 per share on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Tuesday, March 24th.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

Shares of NYSE PFO opened at $8.97 on Friday. Flaherty & Crumrine Preferred and Income Fund has a 1 year low of $8.01 and a 1 year high of $9.90. The firm’s 50 day moving average price is $9.51 and its 200 day moving average price is $9.55.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PFO. Sit Investment Associates Inc. grew its position in shares of Flaherty & Crumrine Preferred and Income Fund by 5.9% in the fourth quarter. Sit Investment Associates Inc. now owns 1,328,546 shares of the company’s stock valued at $12,555,000 after purchasing an additional 73,704 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Flaherty & Crumrine Preferred and Income Fund in the third quarter valued at $5,738,000. Pathstone Holdings LLC purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the third quarter worth about $3,073,000. Advisors Asset Management Inc. lifted its position in Flaherty & Crumrine Preferred and Income Fund by 228.6% during the fourth quarter. Advisors Asset Management Inc. now owns 309,687 shares of the company’s stock worth $2,927,000 after buying an additional 215,441 shares during the period. Finally, 1607 Capital Partners LLC boosted its stake in Flaherty & Crumrine Preferred and Income Fund by 32.5% in the 4th quarter. 1607 Capital Partners LLC now owns 263,244 shares of the company’s stock worth $2,488,000 after buying an additional 64,634 shares during the last quarter. Hedge funds and other institutional investors own 12.90% of the company’s stock.

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.