Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Update

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 27,700 shares, a decline of 39.9% from the July 31st total of 46,100 shares. Based on an average daily volume of 37,600 shares, the short-interest ratio is presently 0.7 days.

Flaherty & Crumrine Preferred Income Fund Price Performance

PFD stock traded up $0.03 during midday trading on Wednesday, hitting $11.54. The stock had a trading volume of 76,393 shares, compared to its average volume of 33,689. Flaherty & Crumrine Preferred Income Fund has a 1-year low of $8.53 and a 1-year high of $11.57. The business has a fifty day moving average price of $10.73 and a two-hundred day moving average price of $10.44.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.0594 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $0.71 annualized dividend and a dividend yield of 6.18%. This is a positive change from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Several institutional investors have recently made changes to their positions in PFD. Ashton Thomas Private Wealth LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the second quarter worth about $35,000. Arrow Financial Corp bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the second quarter worth about $40,000. Pathway Financial Advisers LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the first quarter worth about $40,000. RPO LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth about $108,000. Finally, First National Trust Co bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the second quarter worth about $110,000.

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.