Short Interest in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Grows By 140.4%

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 25,000 shares, an increase of 140.4% from the February 28th total of 10,400 shares. Based on an average daily volume of 27,800 shares, the days-to-cover ratio is currently 0.9 days.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.1 %

Shares of NYSE:PFD opened at $11.21 on Friday. Flaherty & Crumrine Preferred Income Fund has a one year low of $9.80 and a one year high of $12.08. The business’s 50-day simple moving average is $11.29 and its 200 day simple moving average is $11.46.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.061 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.53%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PFD. Noble Wealth Management PBC acquired a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth $31,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth about $39,000. Pathway Financial Advisers LLC lifted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 88.6% in the fourth quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 2,974 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Flaherty & Crumrine Preferred Income Fund by 11.1% in the fourth 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 during the last quarter. Finally, Guggenheim Capital LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the 4th quarter valued at approximately $228,000.

About Flaherty & Crumrine Preferred Income Fund

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.