Short Interest in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Rises By 97.4%

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 25,428 shares, an increase of 97.4% from the May 31st total of 12,882 shares. Based on an average trading volume of 19,580 shares, the short-interest ratio is currently 1.3 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PFD. Western Wealth Management LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 1st quarter valued at approximately $32,000. Fifth Third Bancorp bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 1st quarter worth approximately $98,000. Kestra Advisory Services LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 1st quarter worth approximately $128,000. Capital Investment Advisors LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at $149,000. Finally, Cary Street Partners Financial LLC boosted its stake in Flaherty & Crumrine Preferred Income Fund by 58.1% in the 4th quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 8,500 shares in the last quarter.

Flaherty & Crumrine Preferred Income Fund Price Performance

NYSE:PFD traded down $0.01 during trading hours on Thursday, hitting $11.59. 22,957 shares of the company traded hands, compared to its average volume of 22,788. Flaherty & Crumrine Preferred Income Fund has a twelve month low of $10.98 and a twelve month high of $12.16. The firm has a 50-day moving average of $11.50 and a 200 day moving average of $11.63.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

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 given a $0.0689 dividend. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, July 24th.

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.