Pathway Financial Advisors LLC Buys 12,819 Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Pathway Financial Advisors LLC lifted its stake in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 77.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,446 shares of the real estate investment trust’s stock after acquiring an additional 12,819 shares during the quarter. Pathway Financial Advisors LLC’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $330,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PFD. Noble Wealth Management PBC bought a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth approximately $31,000. Pathway Financial Advisers LLC boosted its stake in Flaherty & Crumrine Preferred Income Fund by 88.6% in the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 2,974 shares during the period. Commonwealth Equity Services LLC boosted its stake in Flaherty & Crumrine Preferred Income Fund by 11.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 1,919 shares during the period. Guggenheim Capital LLC bought a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth approximately $228,000. Finally, Stifel Financial Corp bought a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth approximately $307,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

PFD stock opened at $11.12 on Friday. Flaherty & Crumrine Preferred Income Fund Inc. has a 1-year low of $10.22 and a 1-year high of $12.08. The business has a 50 day simple moving average of $10.95 and a two-hundred day simple moving average of $11.16.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 26th were paid a $0.0622 dividend. This represents a yield of 6.72%. This is an increase from Flaherty & Crumrine Preferred Income Fund’s previous dividend of $0.06. The ex-dividend date of this dividend was Friday, May 23rd.

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.