Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Plans Monthly Dividend of $0.07

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) announced a monthly dividend on Thursday, October 22nd. Shareholders of record on Friday, November 20th will be given a dividend of $0.0703 per share by the real estate investment trust on Monday, November 30th. This represents a $0.84 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Friday, November 20th.

Flaherty & Crumrine Preferred Income Fund Price Performance

PFD stock traded down $0.10 during mid-day trading on Friday, reaching $10.38. 2,669 shares of the stock traded hands, compared to its average volume of 26,521. Flaherty & Crumrine Preferred Income Fund has a 52-week low of $10.41 and a 52-week high of $12.10. The stock’s fifty day moving average is $10.95 and its 200-day moving average is $11.29.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds have recently made changes to their positions in the company. Bard Associates Inc. acquired a new position in Flaherty & Crumrine Preferred Income Fund in the 2nd quarter worth approximately $19,989,000. Bank of America Corp DE acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter valued at $5,951,000. Csenge Advisory Group acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter valued at $5,243,000. Fiduciary Financial Advisors purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter valued at $720,000. Finally, Capital Investment Advisors LLC boosted its position in shares of Flaherty & Crumrine Preferred Income Fund by 18.9% in the third quarter. Capital Investment Advisors LLC now owns 26,937 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 4,286 shares during the period.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income Fund (NYSE: PFD) is a closed-end investment fund managed by Flaherty & Crumrine Incorporated. The fund seeks to provide investors with high current income and, to a lesser extent, opportunities for capital appreciation.

The fund invests primarily in preferred securities issued by financial institutions, utilities, telecommunications companies and other corporations. Its portfolio may also include other income-producing securities, such as hybrid securities, corporate debt and convertible securities.