Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Up 49.0% in February

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 15,500 shares, an increase of 49.0% from the January 31st total of 10,400 shares. Based on an average trading volume of 28,700 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Noble Wealth Management PBC bought a new stake in Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth $31,000. McClarren Financial Advisors Inc. purchased a new stake in Flaherty & Crumrine Preferred Income Fund during the 4th quarter valued at about $39,000. Pathway Financial Advisers LLC grew its position in Flaherty & Crumrine Preferred Income Fund by 88.6% during the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 2,974 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Flaherty & Crumrine Preferred Income Fund by 11.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock valued at $215,000 after purchasing an additional 1,919 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth about $228,000.

Flaherty & Crumrine Preferred Income Fund Price Performance

NYSE:PFD opened at $11.21 on Wednesday. Flaherty & Crumrine Preferred Income Fund has a one year low of $9.80 and a one year high of $12.08. The company’s 50-day simple moving average is $11.27 and its 200 day simple moving average is $11.47.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be given a $0.061 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.53%.

About Flaherty & Crumrine Preferred Income Fund

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.