Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Down 42.5% in August

by · The Cerbat Gem

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 1,802 shares, a decrease of 42.5% from the August 15th total of 3,134 shares. Based on an average trading volume of 32,286 shares, the days-to-cover ratio is currently 0.1 days.

Flaherty & Crumrine Preferred Income Fund Trading Up 1.0%

Flaherty & Crumrine Preferred Income Fund stock traded up $0.10 during midday trading on Thursday, reaching $11.09. The stock had a trading volume of 62,136 shares, compared to its average volume of 25,018. Flaherty & Crumrine Preferred Income Fund has a twelve month low of $10.90 and a twelve month high of $12.16. The firm’s fifty day simple moving average is $11.34 and its two-hundred day simple moving average is $11.43.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be given a $0.0703 dividend. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, October 23rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund during the second quarter valued at $194,000. Beacon Pointe Advisors LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter valued at about $165,000. 49 Wealth Management LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 2nd quarter valued at about $188,000. Bank of America Corp DE purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter worth approximately $1,972,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter worth approximately $720,000.

Flaherty & Crumrine Preferred Income Fund Company Profile

(Get Free Report)

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.

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