Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?
by Mitch Edgeman · The Markets DailyFlaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Free Report)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 Down 0.9%
The business has a fifty day moving average of $11.81 and a two-hundred day moving average of $11.83.
Flaherty & Crumrine Preferred Income Fund Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be paid a $0.0672 dividend. The ex-dividend date is Thursday, April 23rd. This represents a c) annualized dividend and a dividend yield of 7.2%.
Institutional Trading of Flaherty & Crumrine Preferred Income Fund
A number of institutional investors have recently bought and sold shares of the company. Calamos Advisors LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter worth $629,000. CreativeOne Wealth LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth about $115,000. MGO One Seven LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the third quarter valued at $2,023,000. Fiera Capital Corp acquired a new position in Flaherty & Crumrine Preferred Income Fund during the third quarter worth approximately $1,196,000. Finally, Cary Street Partners Financial LLC boosted its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 58.1% during the 4th quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 8,500 shares during the period.
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.