Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $11.50 and traded as high as $11.59. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.5150, with a volume of 23,656 shares traded.

Flaherty & Crumrine Preferred Income Fund Stock Down 0.1%

The stock’s fifty day moving average price is $11.50 and its 200 day moving average price is $11.63.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be given a $0.0689 dividend. This represents a c) annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Friday, July 24th.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

A number of institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. raised its stake in shares of 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 acquiring an additional 6,569 shares in the last quarter. Bank of America Corp DE grew its stake in Flaherty & Crumrine Preferred Income Fund by 9.2% in the second quarter. Bank of America Corp DE now owns 154,578 shares of the real estate investment trust’s stock worth $1,748,000 after purchasing an additional 13,033 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Flaherty & Crumrine Preferred Income Fund by 7.4% during the 2nd quarter. Osaic Holdings Inc. now owns 89,755 shares of the real estate investment trust’s stock worth $1,015,000 after purchasing an additional 6,217 shares during the period. CreativeOne Wealth LLC increased its holdings in Flaherty & Crumrine Preferred Income Fund by 154.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 26,000 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 15,800 shares during the period. Finally, 1607 Capital Partners LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund during the 3rd 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.