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

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 14,238 shares, an increase of 22.0% from the December 31st total of 11,668 shares. Based on an average trading volume of 23,225 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the company’s shares are short sold. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 23,225 shares, the days-to-cover ratio is presently 0.6 days.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.2%

Shares of PFO stock opened at $9.69 on Thursday. The firm’s 50-day simple moving average is $9.50 and its 200-day simple moving average is $9.51. Flaherty & Crumrine Preferred and Income Fund has a 1-year low of $8.01 and a 1-year high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be issued a $0.0546 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Thursday, April 23rd.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in PFO. CIBC Bancorp USA Inc. acquired a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the 3rd quarter valued at $5,738,000. Pathstone Holdings LLC purchased a new position in Flaherty & Crumrine Preferred and Income Fund in the third quarter valued at about $3,073,000. 1607 Capital Partners LLC acquired a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the third quarter worth about $1,936,000. Advisors Asset Management Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the third quarter worth about $919,000. Finally, TrueMark Investments LLC purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the third quarter worth about $670,000. 12.90% of the stock is currently owned by institutional investors and hedge funds.

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.