Flaherty & Crumrine Preferred Income Fund Inc. Declares Monthly Dividend of $0.07 (NYSE:PFD)

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Thursday, July 23rd. Investors of record on Wednesday, September 23rd will be given a dividend of 0.0703 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date is Wednesday, September 23rd.

Flaherty & Crumrine Preferred Income Fund Stock Down 0.7%

Shares of NYSE:PFD opened at $11.39 on Friday. The firm’s 50 day simple moving average is $11.49 and its two-hundred day simple moving average is $11.60. Flaherty & Crumrine Preferred Income Fund has a 1-year low of $10.98 and a 1-year high of $12.16.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Hedge funds have recently made changes to their positions in the business. Western Wealth Management LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 1st quarter worth approximately $32,000. Fifth Third Bancorp bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the first quarter worth about $98,000. Kestra Advisory Services LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the first quarter worth approximately $128,000. Capital Investment Advisors LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at $149,000. Finally, Cary Street Partners Financial LLC raised its stake in Flaherty & Crumrine Preferred Income Fund by 58.1% in the fourth quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 8,500 shares in the last quarter.

About Flaherty & Crumrine Preferred Income Fund

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.