Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Share Price Crosses Below 200-Day Moving Average of $11.19

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Rating)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.19 and traded as low as $9.53. Flaherty & Crumrine Preferred Income Fund shares last traded at $9.59, with a volume of 25,263 shares.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.8 %

The business has a fifty day simple moving average of $10.25 and a two-hundred day simple moving average of $11.18.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, July 24th will be issued a dividend of $0.0575 per share. The ex-dividend date of this dividend is Friday, July 21st. This represents a $0.69 dividend on an annualized basis and a yield of 7.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Private Wealth Strategies L.L.C. raised its position in Flaherty & Crumrine Preferred Income Fund by 1.7% during the 4th quarter. Private Wealth Strategies L.L.C. now owns 62,743 shares of the real estate investment trust’s stock worth $697,000 after buying an additional 1,076 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Flaherty & Crumrine Preferred Income Fund by 109.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,329 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,219 shares during the last quarter. D.A. Davidson & CO. raised its position in Flaherty & Crumrine Preferred Income Fund by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 40,053 shares of the real estate investment trust’s stock worth $445,000 after buying an additional 1,354 shares during the last quarter. NewEdge Advisors LLC raised its position in Flaherty & Crumrine Preferred Income Fund by 6.0% during the 1st quarter. NewEdge Advisors LLC now owns 25,109 shares of the real estate investment trust’s stock worth $250,000 after buying an additional 1,429 shares during the last quarter. Finally, UBS Group AG raised its position in Flaherty & Crumrine Preferred Income Fund by 1.3% during the 1st quarter. UBS Group AG now owns 107,365 shares of the real estate investment trust’s stock worth $1,139,000 after buying an additional 1,430 shares during the last quarter.

About Flaherty & Crumrine Preferred Income Fund

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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.