Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Cross Below 200-Day Moving Average – What’s Next?

Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.84 and traded as low as $11.38. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.4190, with a volume of 26,670 shares.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.4%

The business’s fifty day moving average is $11.90 and its two-hundred day moving average is $11.84.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 23rd will be paid a dividend of $0.0672 per share. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Thursday, April 23rd.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund during the 3rd quarter worth $47,000. CreativeOne Wealth LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 2nd quarter worth $115,000. Capital Investment Advisors LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth $149,000. Cary Street Partners Financial LLC grew its position in shares of Flaherty & Crumrine Preferred Income Fund by 58.1% during the 4th quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 8,500 shares in the last quarter. Finally, 1607 Capital Partners LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter valued at $435,000.

About Flaherty & Crumrine Preferred Income Fund

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.