Csenge Advisory Group Invests $5.24 Million in Flaherty & Crumrine Preferred Income Fund Inc. $PFD

Csenge Advisory Group bought a new stake in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) in the 2nd quarter, Holdings Channel.com reports. The fund bought 322,022 shares of the real estate investment trust’s stock, valued at approximately $5,243,000.

A number of other large investors have also bought and sold shares of PFD. Western Wealth Management LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the first quarter worth $32,000. Fifth Third Bancorp bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the first quarter worth approximately $98,000. Kestra Advisory Services LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the first quarter valued at about $128,000. BlackRock Inc. acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the 2nd quarter worth about $134,000. Finally, Tiemann Investment Advisors LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the 2nd quarter worth about $251,000.

Flaherty & Crumrine Preferred Income Fund Price Performance

NYSE PFD opened at $11.32 on Thursday. The firm has a 50-day moving average price of $11.46 and a two-hundred day moving average price of $11.53. Flaherty & Crumrine Preferred Income Fund Inc. has a 12-month low of $10.98 and a 12-month high of $12.16.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be given a $0.0703 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Friday, October 23rd.

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.