Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Short Interest Update

by · The Cerbat Gem

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO – Get Free Report) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 14,238 shares, a growth of 22.0% from the December 31st total of 11,668 shares. Based on an average daily volume of 23,225 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 23,225 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred and Income Fund

A number of institutional investors have recently added to or reduced their stakes in PFO. Ameritas Advisory Services LLC bought a new position in shares of Flaherty & Crumrine Preferred and Income Fund in the second quarter valued at approximately $32,000. Wolverine Asset Management LLC bought a new position in Flaherty & Crumrine Preferred and Income Fund in the 2nd quarter worth about $365,000. TrueMark Investments LLC purchased a new stake in Flaherty & Crumrine Preferred and Income Fund in the third quarter worth about $670,000. Envestnet Asset Management Inc. increased its position in Flaherty & Crumrine Preferred and Income Fund by 4.6% during the second quarter. Envestnet Asset Management Inc. now owns 138,408 shares of the company’s stock valued at $1,280,000 after acquiring an additional 6,058 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 21.6% during the 2nd quarter. D.A. Davidson & CO. now owns 77,228 shares of the company’s stock worth $714,000 after acquiring an additional 13,701 shares during the last quarter. 12.90% of the stock is owned by institutional investors.

Flaherty & Crumrine Preferred and Income Fund Price Performance

Shares of NYSE:PFO traded up $0.02 during midday trading on Wednesday, hitting $9.69. The stock had a trading volume of 5,982 shares, compared to its average volume of 27,721. The company’s 50-day moving average price is $9.50 and its 200-day moving average price is $9.51. Flaherty & Crumrine Preferred and Income Fund has a fifty-two week low of $8.01 and a fifty-two week high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be paid a dividend of $0.0546 per share. The ex-dividend date is Thursday, April 23rd. This represents a c) dividend on an annualized basis and a yield of 6.8%.

About Flaherty & Crumrine Preferred and Income Fund

(Get Free Report)

Flaherty & Crumrine Preferred and Income Fund (NYSE:PFO) is a closed-end management investment company designed to provide investors with a high level of current income. The fund focuses its portfolio primarily on preferred and participating securities, including traditional preferred shares, convertible preferred instruments, trust preferred issues and other hybrid securities issued by corporations and financial institutions.

Through broad diversification across industry sectors and geographies, PFO aims to manage credit and interest-rate risk while pursuing attractive yield opportunities.

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