Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Announces $0.07 Monthly Dividend

by · The Markets Daily

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Free Report) declared a monthly dividend on Thursday, July 23rd. Shareholders of record on Wednesday, September 23rd will be given a dividend of 0.0703 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.7%

NYSE PFD opened at $11.39 on Friday. Flaherty & Crumrine Preferred Income Fund has a 52 week low of $10.98 and a 52 week high of $12.16. The firm has a 50 day moving average of $11.49 and a two-hundred day moving average of $11.60.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Western Wealth Management LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the first quarter valued at $32,000. Fifth Third Bancorp acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 1st quarter worth about $98,000. Kestra Advisory Services LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 1st quarter worth about $128,000. Capital Investment Advisors LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at about $149,000. Finally, Cary Street Partners Financial LLC increased its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 58.1% in the 4th quarter. Cary Street Partners Financial LLC now owns 23,135 shares of the real estate investment trust’s stock valued at $275,000 after acquiring an additional 8,500 shares during the last quarter.

About Flaherty & Crumrine Preferred Income Fund

(Get Free Report)

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.

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