Flaherty & Crumrine Preferred and Income Fund Inc. (PFO) To Go Ex-Dividend on March 24th

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) announced a monthly dividend on Friday, January 23rd. Investors of record on Tuesday, March 24th will be paid a dividend of 0.0546 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Tuesday, March 24th.

Flaherty & Crumrine Preferred and Income Fund Trading Down 1.8%

Shares of PFO stock opened at $8.97 on Friday. Flaherty & Crumrine Preferred and Income Fund has a 12 month low of $8.01 and a 12 month high of $9.90. The stock has a 50-day moving average price of $9.51 and a 200 day moving average price of $9.55.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred and Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of PFO. Webster Bank N. A. bought a new position in Flaherty & Crumrine Preferred and Income Fund in the fourth quarter valued at approximately $28,000. Raymond James Financial Inc. bought a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 2nd quarter valued at $49,000. AlphaCore Capital LLC acquired a new position in shares of Flaherty & Crumrine Preferred and Income Fund in the 4th quarter valued at $127,000. Guggenheim Capital LLC acquired a new position in shares of Flaherty & Crumrine Preferred and Income Fund in the 4th quarter valued at $232,000. Finally, NewEdge Advisors LLC boosted its position in shares of Flaherty & Crumrine Preferred and Income Fund by 9.5% in the 2nd quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock worth $287,000 after purchasing an additional 2,709 shares during the last quarter. 12.90% of the stock is owned by institutional investors.

About Flaherty & Crumrine Preferred and Income Fund

Flaherty & Crumrine Preferred and Income Fund (NYSE:PFO) is a closed-end management investment company designed to provide investors with a high level of current income. The fund focuses its portfolio primarily on preferred and participating securities, including traditional preferred shares, convertible preferred instruments, trust preferred issues and other hybrid securities issued by corporations and financial institutions.

Through broad diversification across industry sectors and geographies, PFO aims to manage credit and interest-rate risk while pursuing attractive yield opportunities.