Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.84 and traded as low as $11.34. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.3510, with a volume of 9,942 shares trading hands.

Flaherty & Crumrine Preferred Income Fund Stock Performance

The stock has a 50-day moving average price of $11.84 and a 200-day moving average price of $11.84.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be given a dividend of $0.0672 per share. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Thursday, April 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PFD. Farther Finance Advisors LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 3rd quarter valued at $47,000. CreativeOne Wealth LLC bought a new position in Flaherty & Crumrine Preferred Income Fund during the second quarter worth $115,000. Capital Investment Advisors LLC bought a new position in Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth $149,000. Cary Street Partners Financial LLC lifted its holdings in Flaherty & Crumrine Preferred Income Fund by 58.1% in the fourth 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 during the period. Finally, 1607 Capital Partners LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund in the third quarter valued at $435,000.

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.