3,760 Shares in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Purchased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 3,760 shares of the real estate investment trust’s stock, valued at approximately $40,000.

A number of other institutional investors also recently bought and sold shares of PFD. Robinson Capital Management LLC increased its stake in shares of Flaherty & Crumrine Preferred Income Fund by 22.3% in the first quarter. Robinson Capital Management LLC now owns 54,858 shares of the real estate investment trust’s stock worth $554,000 after acquiring an additional 10,000 shares during the period. Matisse Capital boosted its holdings in Flaherty & Crumrine Preferred Income Fund by 6.2% in the first quarter. Matisse Capital now owns 21,138 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 1,240 shares during the last quarter. SpiderRock Advisors LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the 1st quarter worth about $121,000. Private Wealth Strategies L.L.C. raised its stake in shares of Flaherty & Crumrine Preferred Income Fund by 1.8% during the 4th quarter. Private Wealth Strategies L.L.C. now owns 66,067 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 1,161 shares during the last quarter. Finally, RPO LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at about $108,000.

Flaherty & Crumrine Preferred Income Fund Stock Down 0.6 %

Shares of PFD traded down $0.06 during mid-day trading on Friday, reaching $10.78. The company had a trading volume of 54,341 shares, compared to its average volume of 32,910. Flaherty & Crumrine Preferred Income Fund Inc. has a 52-week low of $8.53 and a 52-week high of $10.94. The stock has a 50 day moving average of $10.53 and a two-hundred day moving average of $10.36.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 23rd will be given a $0.0594 dividend. This represents a $0.71 annualized dividend and a yield of 6.61%. The ex-dividend date of this dividend is Friday, August 23rd. This is a positive change from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.