Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Sees Significant Growth in Short Interest

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 26,808 shares, a growth of 88.3% from the January 15th total of 14,238 shares. Based on an average trading volume of 28,168 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.2% of the shares of the company are short sold. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 28,168 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC boosted its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 0.9% during the 3rd quarter. Private Advisor Group LLC now owns 191,153 shares of the company’s stock worth $1,864,000 after acquiring an additional 1,745 shares in the last quarter. TrueMark Investments LLC raised its holdings in Flaherty & Crumrine Preferred and Income Fund by 2.9% during the fourth quarter. TrueMark Investments LLC now owns 70,697 shares of the company’s stock worth $668,000 after purchasing an additional 1,985 shares during the last quarter. Wells Fargo & Company MN boosted its position in Flaherty & Crumrine Preferred and Income Fund by 6.0% during the fourth quarter. Wells Fargo & Company MN now owns 47,000 shares of the company’s stock worth $444,000 after purchasing an additional 2,668 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Flaherty & Crumrine Preferred and Income Fund by 9.5% in the second quarter. NewEdge Advisors LLC now owns 31,081 shares of the company’s stock valued at $287,000 after purchasing an additional 2,709 shares during the last quarter. Finally, Webster Bank N. A. acquired a new stake in Flaherty & Crumrine Preferred and Income Fund in the fourth quarter valued at $28,000. 12.90% of the stock is currently owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred and Income Fund Price Performance

Shares of Flaherty & Crumrine Preferred and Income Fund stock traded up $0.02 during trading hours on Friday, hitting $9.67. 43,868 shares of the company were exchanged, compared to its average volume of 29,974. The business has a 50-day moving average of $9.53 and a 200-day moving average of $9.54. Flaherty & Crumrine Preferred and Income Fund has a 1 year low of $8.01 and a 1 year high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be given a dividend of $0.0546 per share. The ex-dividend date is Thursday, April 23rd. This represents a c) dividend on an annualized basis and a yield of 6.8%.

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.