Baird Financial Group Inc. Makes New Investment in Flaherty & Crumrine Preferred and Income Fund Inc. $PFO

Baird Financial Group Inc. bought a new position in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 31,196 shares of the company’s stock, valued at approximately $288,000. Baird Financial Group Inc. owned 0.24% of Flaherty & Crumrine Preferred and Income Fund at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 7.4% in the fourth quarter. Bank of America Corp DE now owns 21,790 shares of the company’s stock worth $196,000 after buying an additional 1,500 shares during the period. Sit Investment Associates Inc. boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 12.1% during the first quarter. Sit Investment Associates Inc. now owns 608,217 shares of the company’s stock worth $5,608,000 after purchasing an additional 65,415 shares during the period. Invesco Ltd. boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 195.7% during the first quarter. Invesco Ltd. now owns 37,220 shares of the company’s stock worth $343,000 after purchasing an additional 24,633 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the fourth quarter worth approximately $97,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 14.1% during the first quarter. Envestnet Asset Management Inc. now owns 132,350 shares of the company’s stock worth $1,220,000 after purchasing an additional 16,321 shares during the period. 12.90% of the stock is currently owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

PFO stock opened at $9.60 on Friday. The firm has a 50 day simple moving average of $9.30 and a 200 day simple moving average of $9.11. Flaherty & Crumrine Preferred and Income Fund Inc. has a 52 week low of $8.01 and a 52 week high of $9.60.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be issued a dividend of $0.0512 per share. This represents a c) annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Tuesday, September 23rd.

Flaherty & Crumrine Preferred and Income Fund Profile

Flaherty & Crumrine Preferred Income Opportunity 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 stocks of companies operating in the financial services sector.