Short Interest in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Rises By 88.3%

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 26,808 shares, a growth of 88.3% from the January 15th total of 14,238 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 28,168 shares, the days-to-cover ratio is currently 1.0 days. Based on an average trading volume of 28,168 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred and Income Fund

A number of large investors have recently made changes to their positions in the company. Private Advisor Group LLC boosted its position in Flaherty & Crumrine Preferred and Income Fund by 0.9% during the third quarter. Private Advisor Group LLC now owns 191,153 shares of the company’s stock valued at $1,864,000 after purchasing an additional 1,745 shares during the last quarter. TrueMark Investments LLC lifted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 2.9% during the 4th quarter. TrueMark Investments LLC now owns 70,697 shares of the company’s stock valued at $668,000 after buying an additional 1,985 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 6.0% in the 4th quarter. Wells Fargo & Company MN now owns 47,000 shares of the company’s stock valued at $444,000 after buying an additional 2,668 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 9.5% in the 2nd quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock valued at $287,000 after buying an additional 2,709 shares in the last quarter. Finally, Webster Bank N. A. acquired a new position in Flaherty & Crumrine Preferred and Income Fund in the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.2%

Shares of NYSE PFO traded up $0.02 during mid-day trading on Friday, hitting $9.67. 43,868 shares of the company traded hands, compared to its average volume of 29,136. Flaherty & Crumrine Preferred and Income Fund has a 1 year low of $8.01 and a 1 year high of $9.90. The business has a 50 day moving average of $9.53 and a two-hundred day moving average of $9.53.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

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

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.