Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Down 32.9% in February

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 10,400 shares, a drop of 32.9% from the February 13th total of 15,500 shares. Based on an average daily volume of 28,500 shares, the days-to-cover ratio is presently 0.4 days.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.3 %

Shares of PFD traded up $0.03 during midday trading on Friday, hitting $11.26. The stock had a trading volume of 6,903 shares, compared to its average volume of 32,631. Flaherty & Crumrine Preferred Income Fund has a 1 year low of $9.80 and a 1 year high of $12.08. The stock’s 50 day moving average is $11.28 and its 200 day moving average is $11.47.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be paid a $0.061 dividend. This represents a $0.73 annualized dividend and a dividend yield of 6.50%. The ex-dividend date is Wednesday, April 23rd.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in PFD. Noble Wealth Management PBC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth about $31,000. McClarren Financial Advisors Inc. purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth about $39,000. Pathway Financial Advisers LLC increased its stake in Flaherty & Crumrine Preferred Income Fund by 88.6% in the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 2,974 shares during the period. Commonwealth Equity Services LLC increased its stake in Flaherty & Crumrine Preferred Income Fund by 11.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 1,919 shares during the period. Finally, Guggenheim Capital LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth about $228,000.

About Flaherty & Crumrine Preferred Income Fund

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.