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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a large increase in short interest in June. As of June 15th, there was short interest totaling 25,428 shares, an increase of 97.4% from the May 31st total of 12,882 shares. Based on an average trading volume of 19,580 shares, the days-to-cover ratio is currently 1.3 days.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.2%

Shares of PFD stock traded down $0.03 during trading hours on Wednesday, hitting $11.60. 9,029 shares of the company’s stock were exchanged, compared to its average volume of 22,704. The firm has a 50 day moving average of $11.50 and a two-hundred day moving average of $11.63. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $10.98 and a fifty-two week 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 given a dividend of $0.0689 per share. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, July 24th.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Institutional investors have recently bought and sold shares of the company. Sit Investment Associates Inc. boosted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 8.5% in the fourth quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock worth $13,963,000 after acquiring an additional 91,962 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at $5,305,000. Fiera Capital Corp lifted its holdings in Flaherty & Crumrine Preferred Income Fund by 80.8% in the 4th quarter. Fiera Capital Corp now owns 179,838 shares of the real estate investment trust’s stock valued at $2,135,000 after purchasing an additional 80,344 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Flaherty & Crumrine Preferred Income Fund by 3.8% in 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 buying an additional 6,569 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 5.5% in the third quarter. Bank of America Corp DE now owns 163,028 shares of the real estate investment trust’s stock worth $1,960,000 after buying an additional 8,450 shares in the last quarter.

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.