Flaherty & Crumrine Preferred and Income Fund Inc. (PFO) to Issue Monthly Dividend of $0.05 on October 31st

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) announced a monthly dividend on Wednesday, July 23rd, Wall Street Journal reports. Stockholders of record on Friday, October 24th will be given a dividend of 0.0512 per share on Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, October 24th. This is a 1.4% increase from Flaherty & Crumrine Preferred and Income Fund’s previous monthly dividend of $0.05.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.7%

NYSE:PFO opened at $9.73 on Wednesday. Flaherty & Crumrine Preferred and Income Fund has a 12 month low of $8.01 and a 12 month high of $9.90. The firm has a fifty day simple moving average of $9.57 and a 200-day simple moving average of $9.22.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred and Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rossby Financial LCC purchased a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the first quarter worth $28,000. Ameritas Advisory Services LLC purchased a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the second quarter worth $32,000. Raymond James Financial Inc. purchased a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the second quarter worth $49,000. NewEdge Advisors LLC raised its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 9.5% during the second quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock worth $287,000 after purchasing an additional 2,709 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new position in shares of Flaherty & Crumrine Preferred and Income Fund during the first quarter worth $288,000. 12.90% of the stock is currently owned by institutional investors and hedge funds.

About Flaherty & Crumrine Preferred and Income Fund

Flaherty & Crumrine Preferred Income Opportunity 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 stocks of companies operating in the financial services sector.