Sit Investment Associates Inc. Boosts Stock Holdings in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Sit Investment Associates Inc. increased its stake in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,898 shares of the real estate investment trust’s stock after purchasing an additional 37,822 shares during the quarter. Sit Investment Associates Inc.’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $3,989,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC grew its holdings 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 worth $215,000 after acquiring an additional 1,919 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth about $31,000. Pathway Financial Advisers LLC boosted its position in shares of 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 worth $71,000 after acquiring an additional 2,974 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at about $39,000. Finally, UMB Bank n.a. acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth about $971,000.

Flaherty & Crumrine Preferred Income Fund Trading Down 4.8 %

Shares of Flaherty & Crumrine Preferred Income Fund stock opened at $10.53 on Monday. Flaherty & Crumrine Preferred Income Fund Inc. has a 52 week low of $9.80 and a 52 week high of $12.08. The firm’s 50 day moving average is $11.26 and its two-hundred day moving average is $11.42.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a $0.061 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date is Wednesday, April 23rd.

Flaherty & Crumrine Preferred Income Fund Profile

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.