Short Interest in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Rises By 140.4%

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 25,000 shares, an increase of 140.4% from the February 28th total of 10,400 shares. Based on an average trading volume of 27,800 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its stake in shares of Flaherty & Crumrine Preferred Income Fund by 11.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock valued at $215,000 after acquiring an additional 1,919 shares during the period. Noble Wealth Management PBC purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth about $31,000. Pathway Financial Advisers LLC raised its position in Flaherty & Crumrine Preferred Income Fund by 88.6% in the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 2,974 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth about $39,000. Finally, Bridgewealth Advisory Group LLC boosted its position in shares of Flaherty & Crumrine Preferred Income Fund by 112.6% during the fourth quarter. Bridgewealth Advisory Group LLC now owns 27,733 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 14,688 shares during the period.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.2 %

PFD stock traded down $0.03 during midday trading on Friday, reaching $11.21. 13,586 shares of the company traded hands, compared to its average volume of 32,166. Flaherty & Crumrine Preferred Income Fund has a 52-week low of $9.80 and a 52-week high of $12.08. The business has a 50 day moving average of $11.29 and a 200-day moving average of $11.45.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be issued a dividend of $0.061 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.73 annualized dividend and a yield of 6.53%.

About Flaherty & Crumrine Preferred Income Fund

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.