Flaherty & Crumrine Preferred Income Fund Inc. $PFD Shares Purchased by Sit Investment Associates Inc.

Sit Investment Associates Inc. lifted its position in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,176,356 shares of the real estate investment trust’s stock after purchasing an additional 91,962 shares during the period. Sit Investment Associates Inc.’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $13,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFD. Fiera Capital Corp acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at $1,196,000. Bank of America Corp DE increased its stake in Flaherty & Crumrine Preferred Income Fund by 9.2% in the second quarter. Bank of America Corp DE now owns 154,578 shares of the real estate investment trust’s stock valued at $1,748,000 after purchasing an additional 13,033 shares during the period. LPL Financial LLC raised its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 32.9% in the fourth quarter. LPL Financial LLC now owns 89,580 shares of the real estate investment trust’s stock valued at $1,063,000 after buying an additional 22,173 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 12.9% in the fourth quarter. Wells Fargo & Company MN now owns 85,730 shares of the real estate investment trust’s stock valued at $1,018,000 after buying an additional 9,810 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 7.4% during the second quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock worth $1,015,000 after buying an additional 6,217 shares during the period.

Flaherty & Crumrine Preferred Income Fund Price Performance

NYSE PFD opened at $11.57 on Friday. Flaherty & Crumrine Preferred Income Fund Inc. has a 52-week low of $10.98 and a 52-week high of $12.16. The business’s 50-day moving average price is $11.49 and its 200 day moving average price is $11.65.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be paid a $0.0689 dividend. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, July 24th.

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.