Sit Investment Associates Inc. Increases Holdings in Flaherty & Crumrine Preferred and Income Fund Inc. $PFO

Sit Investment Associates Inc. increased its stake in shares of Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,328,546 shares of the company’s stock after buying an additional 73,704 shares during the quarter. Sit Investment Associates Inc. owned about 0.10% of Flaherty & Crumrine Preferred and Income Fund worth $12,555,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. 1607 Capital Partners LLC purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the third quarter worth approximately $1,936,000. Fiera Capital Corp purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the third quarter worth approximately $586,000. Advisors Asset Management Inc. purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the third quarter worth approximately $919,000. Closed End Fund Advisors Inc. purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter worth approximately $909,000. Finally, Baird Financial Group Inc. lifted its position in Flaherty & Crumrine Preferred and Income Fund by 37.4% during the second quarter. Baird Financial Group Inc. now owns 42,878 shares of the company’s stock worth $397,000 after buying an additional 11,682 shares in the last quarter. Hedge funds and other institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.1%

Shares of Flaherty & Crumrine Preferred and Income Fund stock opened at $9.14 on Friday. Flaherty & Crumrine Preferred and Income Fund Inc. has a one year low of $8.85 and a one year high of $9.90. The business’s 50 day moving average price is $9.19 and its 200 day moving average price is $9.36.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be given a dividend of $0.0556 per share. The ex-dividend date is Friday, July 24th. This represents a c) dividend on an annualized basis and a yield of 7.3%.

Flaherty & Crumrine Preferred and Income Fund Profile

Flaherty & Crumrine Preferred and Income Fund (NYSE:PFO) is a closed-end management investment company designed to provide investors with a high level of current income. The fund focuses its portfolio primarily on preferred and participating securities, including traditional preferred shares, convertible preferred instruments, trust preferred issues and other hybrid securities issued by corporations and financial institutions.

Through broad diversification across industry sectors and geographies, PFO aims to manage credit and interest-rate risk while pursuing attractive yield opportunities.