Short Interest in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Drops By 29.8%

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 11,668 shares, a decrease of 29.8% from the December 15th total of 16,611 shares. Based on an average trading volume of 36,289 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 36,289 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

Several large investors have recently added to or reduced their stakes in PFO. Ameritas Advisory Services LLC acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the second quarter worth about $32,000. Raymond James Financial Inc. purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the 2nd quarter worth approximately $49,000. NewEdge Advisors LLC raised its position in Flaherty & Crumrine Preferred and Income Fund by 9.5% during the 2nd quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock worth $287,000 after buying an additional 2,709 shares during the last quarter. Clifford Swan Investment Counsel LLC lifted its stake in Flaherty & Crumrine Preferred and Income Fund by 96.7% during the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 29,500 shares of the company’s stock valued at $288,000 after acquiring an additional 14,500 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 2nd quarter valued at $365,000. Hedge funds and other institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred and Income Fund Price Performance

PFO stock remained flat at $9.55 during trading on Friday. 11,948 shares of the company were exchanged, compared to its average volume of 27,980. Flaherty & Crumrine Preferred and Income Fund has a one year low of $8.01 and a one year high of $9.90. The business has a fifty day simple moving average of $9.48 and a 200-day simple moving average of $9.48.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 23rd will be issued a dividend of $0.0546 per share. The ex-dividend date of this dividend is Friday, January 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%.

Flaherty & Crumrine Preferred and Income Fund Company Profile

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.