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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.62 and traded as low as $11.54. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.5560, with a volume of 25,650 shares trading hands.

Flaherty & Crumrine Preferred Income Fund Price Performance

The company’s 50-day moving average is $11.50 and its 200-day moving average is $11.62.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Large investors have recently bought and sold shares of the stock. Sit Investment Associates Inc. raised its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 8.5% in the 4th quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock worth $13,963,000 after purchasing an additional 91,962 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Flaherty & Crumrine Preferred Income Fund in the third quarter valued at approximately $5,305,000. Fiera Capital Corp raised its holdings in Flaherty & Crumrine Preferred Income Fund by 80.8% in the fourth quarter. Fiera Capital Corp now owns 179,838 shares of the real estate investment trust’s stock valued at $2,135,000 after buying an additional 80,344 shares during the period. Raymond James Financial Inc. lifted its position in Flaherty & Crumrine Preferred Income Fund by 3.8% during the second quarter. Raymond James Financial Inc. now owns 177,337 shares of the real estate investment trust’s stock valued at $2,006,000 after buying an additional 6,569 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Flaherty & Crumrine Preferred Income Fund by 5.5% during the third quarter. Bank of America Corp DE now owns 163,028 shares of the real estate investment trust’s stock valued at $1,960,000 after buying an additional 8,450 shares in the last quarter.

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.