1607 Capital Partners LLC Purchases 64,634 Shares of Flaherty & Crumrine Preferred and Income Fund Inc. $PFO

1607 Capital Partners LLC lifted its position in shares of Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) by 32.5% during the fourth quarter, HoldingsChannel reports. The firm owned 263,244 shares of the company’s stock after buying an additional 64,634 shares during the quarter. 1607 Capital Partners LLC’s holdings in Flaherty & Crumrine Preferred and Income Fund were worth $2,488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Guggenheim Capital LLC acquired a new position in shares of Flaherty & Crumrine Preferred and Income Fund in the 4th quarter valued at approximately $232,000. Wells Fargo & Company MN grew its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 6.0% during the 4th quarter. Wells Fargo & Company MN now owns 47,000 shares of the company’s stock worth $444,000 after acquiring an additional 2,668 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 228.6% in the 4th 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 last quarter. Sit Investment Associates Inc. boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 5.9% in the 4th quarter. Sit Investment Associates Inc. now owns 1,328,546 shares of the company’s stock valued at $12,555,000 after buying an additional 73,704 shares during the last quarter. Finally, Fiera Capital Corp boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 115.9% in the 4th quarter. Fiera Capital Corp now owns 129,862 shares of the company’s stock valued at $1,227,000 after buying an additional 69,717 shares during the last quarter. 12.90% of the stock is currently owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

PFO opened at $9.22 on Thursday. Flaherty & Crumrine Preferred and Income Fund Inc. has a 1-year low of $8.85 and a 1-year high of $9.90. The stock’s fifty day simple moving average is $9.19 and its 200 day simple moving average is $9.35.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be paid a $0.0556 dividend. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Friday, July 24th.

About Flaherty & Crumrine Preferred and Income Fund

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.