Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.64 and traded as low as $11.43. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.53, with a volume of 71,264 shares.

Flaherty & Crumrine Preferred Income Fund Stock Down 0.9%

The stock has a fifty day moving average of $11.50 and a 200-day moving average of $11.64.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be issued a dividend of $0.0689 per share. This represents a c) annualized dividend and a yield of 7.2%. The ex-dividend date is Friday, July 24th.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Large investors have recently made changes to their positions in the company. Sit Investment Associates Inc. grew its position 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 purchasing an additional 91,962 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Flaherty & Crumrine Preferred Income Fund during the third quarter valued at $5,305,000. Fiera Capital Corp lifted its stake in 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 worth $2,135,000 after acquiring an additional 80,344 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Flaherty & Crumrine Preferred Income Fund by 3.8% in the 2nd quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock worth $2,006,000 after acquiring an additional 6,569 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 5.5% in the 3rd quarter. Bank of America Corp DE now owns 163,028 shares of the real estate investment trust’s stock valued at $1,960,000 after purchasing an additional 8,450 shares during the period.

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.