Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) to Issue $0.08 Monthly Dividend

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFDGet Rating) declared a monthly dividend on Tuesday, April 26th, Wall Street Journal reports. Shareholders of record on Friday, July 22nd will be given a dividend of 0.0785 per share by the real estate investment trust on Friday, July 29th. This represents a $0.94 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date is Thursday, July 21st.

Flaherty & Crumrine Preferred Income Fund stock traded down $0.25 during midday trading on Tuesday, reaching $12.66. 30,322 shares of the stock traded hands, compared to its average volume of 36,395. The firm has a fifty day moving average price of $13.82 and a two-hundred day moving average price of $15.65. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $12.41 and a fifty-two week high of $18.80.

A number of institutional investors have recently bought and sold shares of PFD. Morgan Stanley boosted its stake in Flaherty & Crumrine Preferred Income Fund by 1.6% during the 2nd quarter. Morgan Stanley now owns 167,592 shares of the real estate investment trust’s stock valued at $2,799,000 after purchasing an additional 2,664 shares during the period. Royal Bank of Canada raised its position in shares of Flaherty & Crumrine Preferred Income Fund by 8.1% during the 3rd quarter. Royal Bank of Canada now owns 50,462 shares of the real estate investment trust’s stock worth $796,000 after buying an additional 3,773 shares in the last quarter. Bank of America Corp DE raised its position in shares of Flaherty & Crumrine Preferred Income Fund by 22.5% during the 4th quarter. Bank of America Corp DE now owns 26,884 shares of the real estate investment trust’s stock worth $471,000 after buying an additional 4,933 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth about $1,429,000. Finally, LPL Financial LLC raised its position in shares of Flaherty & Crumrine Preferred Income Fund by 18.9% during the 4th quarter. LPL Financial LLC now owns 43,561 shares of the real estate investment trust’s stock worth $762,000 after buying an additional 6,927 shares in the last quarter.

About Flaherty & Crumrine Preferred Income Fund (Get Rating)

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.

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Dividend History for Flaherty & Crumrine Preferred Income Fund (NYSE:PFD)

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