Comerica Bank Trims Stock Position in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Comerica Bank trimmed its holdings in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,651 shares of the real estate investment trust’s stock after selling 2,527 shares during the period. Comerica Bank’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $97,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Noble Wealth Management PBC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth $31,000. McClarren Financial Advisors Inc. acquired a new position in Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth about $39,000. Pathway Financial Advisers LLC grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 88.6% during the fourth quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 2,974 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of 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 valued at $215,000 after purchasing an additional 1,919 shares during the last quarter. Finally, Guggenheim Capital LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth approximately $228,000.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.0%

Shares of NYSE:PFD opened at $11.15 on Monday. The stock has a fifty day moving average of $10.98 and a 200-day moving average of $11.20. Flaherty & Crumrine Preferred Income Fund Inc. has a one year low of $10.10 and a one year high of $12.08.

Flaherty & Crumrine Preferred Income Fund Cuts Dividend

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