Flaherty & Crumrine Preferred and Income Fund Inc. (PFO) To Go Ex-Dividend on August 24th

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) declared a monthly dividend on Wednesday, July 22nd. Shareholders of record on Monday, August 24th will be given a dividend of 0.0567 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Monday, August 24th. This is a 2.0% increase from Flaherty & Crumrine Preferred and Income Fund’s previous monthly dividend of $0.06.

Flaherty & Crumrine Preferred and Income Fund Price Performance

PFO stock opened at $9.03 on Friday. Flaherty & Crumrine Preferred and Income Fund has a one year low of $8.85 and a one year high of $9.90. The company has a fifty day moving average price of $9.16 and a two-hundred day moving average price of $9.24.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

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

Flaherty & Crumrine Preferred and Income Fund Company Profile

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.