Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Sees Large Growth in Short Interest

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 26,808 shares, a growth of 88.3% from the January 15th total of 14,238 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 28,168 shares, the short-interest ratio is currently 1.0 days. Based on an average trading volume of 28,168 shares, the short-interest ratio is currently 1.0 days. Approximately 0.2% of the shares of the company are sold short.

Flaherty & Crumrine Preferred and Income Fund Price Performance

Shares of PFO traded up $0.02 during trading hours on Friday, reaching $9.67. 43,868 shares of the company’s stock traded hands, compared to its average volume of 29,136. Flaherty & Crumrine Preferred and Income Fund has a twelve month low of $8.01 and a twelve month high of $9.90. The business’s fifty day simple moving average is $9.53 and its two-hundred day simple moving average is $9.53.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be paid a dividend of $0.0546 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a c) annualized dividend and a yield of 6.8%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PFO. CIBC Bancorp USA Inc. bought a new stake in Flaherty & Crumrine Preferred and Income Fund during the third quarter worth approximately $5,738,000. Pathstone Holdings LLC bought a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 3rd quarter worth $3,073,000. Advisors Asset Management Inc. lifted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 228.6% in the fourth quarter. Advisors Asset Management Inc. now owns 309,687 shares of the company’s stock valued at $2,927,000 after buying an additional 215,441 shares during the period. 1607 Capital Partners LLC bought a new position in Flaherty & Crumrine Preferred and Income Fund during the third quarter valued at about $1,936,000. Finally, Closed End Fund Advisors Inc. acquired a new position in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter worth about $909,000. 12.90% of the stock is currently owned by institutional investors.

Flaherty & Crumrine Preferred and Income Fund Company Profile

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.