Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) to Issue Monthly Dividend of $0.07

by · The Markets Daily

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Free Report) declared a monthly dividend on Thursday, December 11th. Shareholders of record on Friday, January 23rd will be given a dividend of 0.0672 per share by the real estate investment trust on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, January 23rd.

Flaherty & Crumrine Preferred Income Fund Stock Performance

NYSE PFD traded down $0.05 during trading on Friday, hitting $11.75. 12,794 shares of the company’s stock traded hands, compared to its average volume of 29,238. The stock has a fifty day moving average of $11.83 and a two-hundred day moving average of $11.58. Flaherty & Crumrine Preferred Income Fund has a 12-month low of $10.22 and a 12-month high of $12.16.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Institutional investors have recently modified their holdings of the company. CIBC Bancorp USA Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund in the third quarter valued at $5,305,000. MGO One Seven LLC purchased a new stake in Flaherty & Crumrine Preferred Income Fund during the 3rd quarter valued at $2,023,000. Fiera Capital Corp bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 3rd quarter worth approximately $1,196,000. Smith Asset Management Co. LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund during the first quarter valued at $840,000. Finally, Sit Investment Associates Inc. lifted its holdings in Flaherty & Crumrine Preferred Income Fund by 18.3% during the first quarter. Sit Investment Associates Inc. now owns 420,011 shares of the real estate investment trust’s stock valued at $4,713,000 after purchasing an additional 65,113 shares in the last quarter.

About Flaherty & Crumrine Preferred Income Fund

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Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.

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