Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Sees Significant Decrease in Short Interest

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 3,134 shares, a drop of 75.6% from the July 30th total of 12,830 shares. Based on an average trading volume of 37,841 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Several hedge funds have recently made changes to their positions in the business. Western Wealth Management LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund during the 1st quarter worth approximately $32,000. Allworth Financial LP acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter worth $40,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter worth $43,000. Fifth Third Bancorp purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the first quarter valued at $98,000. Finally, Kestra Advisory Services LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund during the first quarter valued at $128,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

PFD traded down $0.00 during trading on Thursday, reaching $11.28. The stock had a trading volume of 25,767 shares, compared to its average volume of 24,304. Flaherty & Crumrine Preferred Income Fund has a 1-year low of $10.98 and a 1-year high of $12.16. The stock has a 50 day moving average of $11.44 and a two-hundred day moving average of $11.51.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, October 23rd. This represents a c) annualized dividend and a yield of 7.5%.

About Flaherty & Crumrine Preferred Income Fund

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.