Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.36 and traded as low as $11.30. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.45, with a volume of 24,640 shares changing hands.

Flaherty & Crumrine Preferred Income Fund Stock Performance

The business’s 50-day moving average price is $11.31 and its 200 day moving average price is $11.36.

Flaherty & Crumrine Preferred Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be issued a $0.03 dividend. The ex-dividend date is Friday, January 24th. This represents a $0.36 dividend on an annualized basis and a yield of 3.14%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Flaherty & Crumrine Preferred Income Fund stock. UMB Bank n.a. acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 86,373 shares of the real estate investment trust’s stock, valued at approximately $971,000.

Flaherty & Crumrine Preferred Income Fund Company Profile

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.