Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.44 and traded as low as $11.28. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.28, with a volume of 19,762 shares trading hands.

Flaherty & Crumrine Preferred Income Fund Stock Down 0.7 %

The firm has a 50 day moving average of $11.27 and a two-hundred day moving average of $11.44.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be paid a $0.061 dividend. This represents a $0.73 annualized dividend and a yield of 6.49%. The ex-dividend date of this dividend is Wednesday, April 23rd.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds have recently bought and sold shares of the company. Noble Wealth Management PBC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at approximately $31,000. McClarren Financial Advisors Inc. purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at approximately $39,000. Pathway Financial Advisers LLC increased its stake in Flaherty & Crumrine Preferred Income Fund by 88.6% in the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 2,974 shares in the last quarter. Ellis Investment Partners LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at approximately $125,000. Finally, Commonwealth Equity Services LLC increased its stake in Flaherty & Crumrine Preferred Income Fund by 11.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock valued at $215,000 after purchasing an additional 1,919 shares in the last quarter.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.