Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Up 29.8% in April

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 22,200 shares, an increase of 29.8% from the March 31st total of 17,100 shares. Based on an average daily volume of 28,200 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in Flaherty & Crumrine Preferred Income Fund by 11.1% during the fourth 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. McClarren Financial Advisors Inc. bought a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth approximately $39,000. Noble Wealth Management PBC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at approximately $31,000. Bridgewealth Advisory Group LLC grew its stake in Flaherty & Crumrine Preferred Income Fund by 112.6% in the 4th quarter. Bridgewealth Advisory Group LLC now owns 27,733 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 14,688 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 4th quarter valued at $2,036,000.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.2 %

Flaherty & Crumrine Preferred Income Fund stock opened at $11.01 on Friday. The business’s 50 day simple moving average is $11.01 and its 200 day simple moving average is $11.25. Flaherty & Crumrine Preferred Income Fund has a 12 month low of $10.10 and a 12 month high of $12.08.

Flaherty & Crumrine Preferred Income Fund Cuts Dividend

The company also recently declared a — dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.0622 per share. The ex-dividend date is Monday, June 23rd. This represents a dividend yield of 6.9%.

Flaherty & Crumrine Preferred Income Fund Company 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.