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 share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.81 and traded as low as $11.00. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.0050, with a volume of 23,474 shares trading hands.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.2%

The company has a fifty day moving average of $11.72 and a 200-day moving average of $11.81.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 23rd will be given a $0.0672 dividend. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Thursday, April 23rd.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Large investors have recently made changes to their positions in the company. Lido Advisors LLC boosted its stake in Flaherty & Crumrine Preferred Income Fund by 1.6% during the 3rd quarter. Lido Advisors LLC now owns 66,880 shares of the real estate investment trust’s stock worth $804,000 after purchasing an additional 1,069 shares during the last quarter. Cary Street Partners Financial LLC raised its position in shares of Flaherty & Crumrine Preferred Income Fund by 3.1% in the second quarter. Cary Street Partners Financial LLC now owns 44,835 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 1,335 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the third quarter valued at about $47,000. Osaic Holdings Inc. lifted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 7.4% in the second quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock worth $1,015,000 after buying an additional 6,217 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in Flaherty & Crumrine Preferred Income Fund by 3.8% during the second quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock worth $2,006,000 after acquiring an additional 6,569 shares during the last quarter.

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.