Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Short Interest Down 57.1% in June

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 8,083 shares, a drop of 57.1% from the June 15th total of 18,848 shares. Based on an average trading volume of 16,320 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the company’s stock are short sold.

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

Several institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its stake in Flaherty & Crumrine Preferred and Income Fund by 17.1% during the 2nd quarter. Invesco Ltd. now owns 43,592 shares of the company’s stock valued at $403,000 after acquiring an additional 6,372 shares in the last quarter. Baird Financial Group Inc. increased its stake in Flaherty & Crumrine Preferred and Income Fund by 37.4% in the 2nd quarter. Baird Financial Group Inc. now owns 42,878 shares of the company’s stock valued at $397,000 after buying an additional 11,682 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Flaherty & Crumrine Preferred and Income Fund by 9.5% during the 2nd quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock worth $287,000 after buying an additional 2,709 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the 2nd quarter worth approximately $49,000. Finally, Private Advisor Group LLC boosted its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 191,153 shares of the company’s stock worth $1,864,000 after buying an additional 1,745 shares during the last quarter. Institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

PFO traded up $0.01 during midday trading on Wednesday, reaching $9.23. 14,467 shares of the company were exchanged, compared to its average volume of 16,366. Flaherty & Crumrine Preferred and Income Fund has a one year low of $8.85 and a one year high of $9.90. The company’s fifty day moving average price is $9.16 and its 200 day moving average price is $9.32.

About Flaherty & Crumrine Preferred and Income Fund

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.