Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Pass Below 200 Day Moving Average – What’s Next?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.84 and traded as low as $11.38. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.4190, with a volume of 26,670 shares traded.

Flaherty & Crumrine Preferred Income Fund Stock Down 0.3%

The business has a fifty day moving average of $11.88 and a two-hundred day moving average of $11.84.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be issued a $0.0672 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a c) annualized dividend and a yield of 7.1%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. CreativeOne Wealth LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 2nd quarter worth about $115,000. Lido Advisors LLC grew its position in shares of Flaherty & Crumrine Preferred Income Fund by 1.7% in the second quarter. Lido Advisors LLC now owns 65,811 shares of the real estate investment trust’s stock valued at $744,000 after purchasing an additional 1,087 shares during the last quarter. Cary Street Partners Financial LLC grew its position in shares of Flaherty & Crumrine Preferred Income Fund by 3.1% in the second quarter. Cary Street Partners Financial LLC now owns 44,835 shares of the real estate investment trust’s stock valued at $507,000 after purchasing an additional 1,335 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Flaherty & Crumrine Preferred Income Fund by 3.8% during the 2nd quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock worth $2,006,000 after purchasing an additional 6,569 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Flaherty & Crumrine Preferred Income Fund by 9.2% during the 2nd quarter. Bank of America Corp DE now owns 154,578 shares of the real estate investment trust’s stock worth $1,748,000 after purchasing an additional 13,033 shares in the last quarter.

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.