Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $11.39 and traded as low as $10.84. Flaherty & Crumrine Preferred Income Fund shares last traded at $10.92, with a volume of 72,431 shares traded.

Flaherty & Crumrine Preferred Income Fund Stock Performance

The company’s 50-day moving average price is $11.27 and its 200-day moving average price is $11.39.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be given a $0.0703 dividend. This represents a $0.84 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Friday, October 23rd.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

A number of large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Flaherty & Crumrine Preferred Income Fund in the second quarter valued at $43,000. Western Wealth Management LLC purchased a new stake in Flaherty & Crumrine Preferred Income Fund during the 1st quarter worth about $32,000. Allworth Financial LP acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the 2nd quarter valued at about $40,000. Fifth Third Bancorp acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the 1st quarter valued at about $98,000. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 2nd quarter valued at about $165,000.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund Incorporated (NYSE: PFD) is a closed-end investment company that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The fund invests primarily in preferred securities and other income-producing investments.

Its portfolio may include preferred stocks, hybrid securities, corporate debt and other securities issued by companies in industries such as financial services, utilities, telecommunications and real estate.