Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Down 47.8% in May

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totaling 6,511 shares, a decrease of 47.8% from the April 30th total of 12,483 shares. Based on an average daily volume of 19,259 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Western Wealth Management LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund during the 1st quarter valued at approximately $32,000. Fifth Third Bancorp acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the first quarter worth $98,000. Kestra Advisory Services LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the first quarter worth $128,000. Capital Investment Advisors LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth $149,000. Finally, Cary Street Partners Financial LLC increased its stake in shares of Flaherty & Crumrine Preferred Income Fund by 58.1% in the fourth quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock worth $275,000 after acquiring an additional 8,500 shares during the period.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.2%

Flaherty & Crumrine Preferred Income Fund stock traded up $0.02 during mid-day trading on Tuesday, reaching $11.50. 28,724 shares of the company traded hands, compared to its average volume of 22,743. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $10.98 and a fifty-two week high of $12.16. The firm’s fifty day moving average is $11.42 and its two-hundred day moving average is $11.67.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be paid a dividend of $0.0689 per share. The ex-dividend date is Friday, July 24th. This represents a c) dividend on an annualized basis and a yield of 7.2%.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund (NYSE: PFD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income by investing primarily in preferred securities. The fund’s portfolio typically includes both U.S. and global preferred stocks, hybrid capital instruments and other fixed-income securities that pay fixed or adjustable dividends. It may also invest in investment-grade and below-investment-grade issues to capture yield opportunities across credit quality tiers.

Since its inception in 2006, PFD has aimed to deliver attractive after-tax total returns by actively managing interest-rate and credit-risk exposure.