Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Stock Position Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) by 14.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,350 shares of the company’s stock after buying an additional 16,321 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Flaherty & Crumrine Preferred and Income Fund were worth $1,220,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rossby Financial LCC acquired a new position in shares of Flaherty & Crumrine Preferred and Income Fund in the first quarter worth $28,000. Citadel Advisors LLC purchased a new position in Flaherty & Crumrine Preferred and Income Fund in the fourth quarter valued at about $97,000. Invesco Ltd. acquired a new position in Flaherty & Crumrine Preferred and Income Fund in the 4th quarter worth about $113,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 1st quarter worth about $129,000. Finally, Bank of America Corp DE raised its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 7.4% during the 4th quarter. Bank of America Corp DE now owns 21,790 shares of the company’s stock worth $196,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.1%

Shares of Flaherty & Crumrine Preferred and Income Fund stock opened at $9.28 on Friday. The stock has a 50-day simple moving average of $9.17 and a 200-day simple moving average of $9.07. Flaherty & Crumrine Preferred and Income Fund Inc. has a 52-week low of $8.01 and a 52-week high of $9.54.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 24th will be given a $0.0512 dividend. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, October 24th.

Flaherty & Crumrine Preferred and Income Fund Company Profile

Flaherty & Crumrine Preferred Income Opportunity 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 stocks of companies operating in the financial services sector.