Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.16 and traded as low as $11.02. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.09, with a volume of 13,805 shares traded.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.3%

The company’s fifty day moving average price is $10.91 and its two-hundred day moving average price is $11.16.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 26th were issued a dividend of $0.0622 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a yield of 6.72%. This is a positive change from Flaherty & Crumrine Preferred Income Fund’s previous dividend of $0.06.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Noble Wealth Management PBC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth about $31,000. McClarren Financial Advisors Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth about $39,000. Pathway Financial Advisers LLC grew its holdings in Flaherty & Crumrine Preferred Income Fund by 88.6% during the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 2,974 shares during the last quarter. Sound Income Strategies LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 1st quarter worth about $73,000. Finally, Arlington Capital Management Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 1st quarter worth about $150,000.

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.