Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Passes Above 50-Day Moving Average – Here’s What Happened

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.79 and traded as high as $11.84. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.8150, with a volume of 21,286 shares.

Flaherty & Crumrine Preferred Income Fund Stock Down 0.0%

The firm’s 50 day moving average is $11.79 and its two-hundred day moving average is $11.65.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 23rd will be given a $0.0672 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, January 23rd.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in Flaherty & Crumrine Preferred Income Fund during the second quarter worth about $43,000. Farther Finance Advisors LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the third quarter valued at approximately $47,000. CreativeOne Wealth LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth approximately $115,000. Signature Wealth Management Partners LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth approximately $162,000. Finally, Bridgewealth Advisory Group LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth approximately $314,000.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund (NYSE: PFD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income by investing primarily in preferred securities. The fund’s portfolio typically includes both U.S. and global preferred stocks, hybrid capital instruments and other fixed-income securities that pay fixed or adjustable dividends. It may also invest in investment-grade and below-investment-grade issues to capture yield opportunities across credit quality tiers.

Since its inception in 2006, PFD has aimed to deliver attractive after-tax total returns by actively managing interest-rate and credit-risk exposure.