Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.84 and traded as low as $11.34. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.3510, with a volume of 9,942 shares.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.3%

The company has a fifty day moving average of $11.84 and a two-hundred day moving average of $11.84.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be given a $0.0672 dividend. The ex-dividend date is Thursday, April 23rd. This represents a c) annualized dividend and a yield of 7.1%.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in PFD. Farther Finance Advisors LLC bought a new position in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at approximately $47,000. CreativeOne Wealth LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth approximately $115,000. Capital Investment Advisors LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth approximately $149,000. Cary Street Partners Financial LLC increased its position in Flaherty & Crumrine Preferred Income Fund by 58.1% in the 4th quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock valued at $275,000 after acquiring an additional 8,500 shares during the period. Finally, 1607 Capital Partners LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at approximately $435,000.

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.