Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Down 42.5% in August

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 1,802 shares, a decrease of 42.5% from the August 15th total of 3,134 shares. Based on an average trading volume of 32,286 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Several large investors have recently modified their holdings of the company. Sit Investment Associates Inc. grew its holdings in Flaherty & Crumrine Preferred Income Fund by 8.5% during the 4th quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock worth $13,963,000 after acquiring an additional 91,962 shares during the period. Fiduciary Financial Advisors acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 2nd quarter valued at about $720,000. Fiera Capital Corp lifted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 80.8% in the 4th quarter. Fiera Capital Corp now owns 179,838 shares of the real estate investment trust’s stock valued at $2,135,000 after purchasing an additional 80,344 shares during the period. Csenge Advisory Group bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 2nd quarter valued at about $5,243,000. Finally, Bard Associates Inc. acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the second quarter worth approximately $19,989,000.

Flaherty & Crumrine Preferred Income Fund Price Performance

NYSE:PFD opened at $11.09 on Friday. The company has a 50 day simple moving average of $11.33 and a two-hundred day simple moving average of $11.42. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $10.90 and a fifty-two week high of $12.16.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be given a $0.0703 dividend. The ex-dividend date is Friday, October 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%.

Flaherty & Crumrine Preferred Income Fund Company Profile

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.