Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Pass Below 200-Day Moving Average – Should You Sell?

Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.42 and traded as low as $11.25. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.34, with a volume of 44,815 shares.

Flaherty & Crumrine Preferred Income Fund Stock Performance

The business’s 50 day simple moving average is $11.30 and its 200-day simple moving average is $11.42.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a dividend of $0.061 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.73 dividend on an annualized basis and a yield of 6.46%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter valued at about $31,000. McClarren Financial Advisors Inc. acquired a new position in Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth approximately $39,000. Pathway Financial Advisers LLC raised its position in Flaherty & Crumrine Preferred Income Fund by 88.6% during the fourth quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 2,974 shares in the last quarter. Ellis Investment Partners LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the third quarter valued at approximately $125,000. Finally, Commonwealth Equity Services LLC grew its position in Flaherty & Crumrine Preferred Income Fund by 11.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock worth $215,000 after acquiring an additional 1,919 shares in the last quarter.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.