Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.76 and traded as low as $11.55. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.6060, with a volume of 16,771 shares trading hands.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.2%

The company has a fifty day moving average price of $11.59 and a 200-day moving average price of $11.76.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm 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 dividend of $0.0672 per share. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Thursday, April 23rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new stake in Flaherty & Crumrine Preferred Income Fund during the third quarter valued at approximately $47,000. Capital Investment Advisors LLC purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth about $149,000. Cary Street Partners Financial LLC lifted its stake in Flaherty & Crumrine Preferred Income Fund by 58.1% in the fourth quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 8,500 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of Flaherty & Crumrine Preferred Income Fund by 154.9% during the third quarter. CreativeOne Wealth LLC now owns 26,000 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 15,800 shares during the period. Finally, 1607 Capital Partners LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter valued at approximately $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.