Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Plans Dividend Increase – $0.06 Per Share

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Friday, June 21st will be given a dividend of 0.0583 per share by the real estate investment trust on Friday, June 28th. This represents a $0.70 annualized dividend and a yield of 7.05%. The ex-dividend date of this dividend is Friday, June 21st. This is a boost from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06.

Flaherty & Crumrine Preferred Income Fund has decreased its dividend by an average of 10.7% annually over the last three years and has raised its dividend annually for the last 1 consecutive years.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.2 %

NYSE PFD opened at $9.93 on Friday. The business’s 50 day moving average is $10.29 and its two-hundred day moving average is $9.89. Flaherty & Crumrine Preferred Income Fund has a 12-month low of $8.53 and a 12-month high of $10.92.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFD. UBS Group AG grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 30.5% in the 3rd quarter. UBS Group AG now owns 178,049 shares of the real estate investment trust’s stock worth $1,626,000 after acquiring an additional 41,636 shares during the period. Centaurus Financial Inc. grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 15.8% in the 1st quarter. Centaurus Financial Inc. now owns 100,069 shares of the real estate investment trust’s stock worth $1,062,000 after acquiring an additional 13,633 shares during the period. Invesco Ltd. grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 6.8% in the 1st quarter. Invesco Ltd. now owns 87,228 shares of the real estate investment trust’s stock worth $1,209,000 after acquiring an additional 5,576 shares during the period. Royal Bank of Canada grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 16.2% in the 3rd quarter. Royal Bank of Canada now owns 60,580 shares of the real estate investment trust’s stock worth $643,000 after acquiring an additional 8,431 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 35.8% in the 4th quarter. Bank of America Corp DE now owns 50,766 shares of the real estate investment trust’s stock worth $564,000 after acquiring an additional 13,387 shares during the period.

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.