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

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) saw a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 7,112 shares, a decline of 29.0% from the February 12th total of 10,019 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 27,673 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 27,673 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Flaherty & Crumrine Preferred and Income Fund Trading Down 0.1%

Shares of NYSE PFO traded down $0.01 during midday trading on Friday, reaching $9.19. The company had a trading volume of 22,869 shares, compared to its average volume of 32,083. Flaherty & Crumrine Preferred and Income Fund has a 1 year low of $8.01 and a 1 year high of $9.90. The business’s 50-day simple moving average is $9.54 and its 200 day simple moving average is $9.56.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 23rd will be given a $0.0546 dividend. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Thursday, April 23rd.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFO. Webster Bank N. A. purchased a new position in shares of Flaherty & Crumrine Preferred and Income Fund in the fourth quarter worth about $28,000. Raymond James Financial Inc. purchased a new stake in Flaherty & Crumrine Preferred and Income Fund in the second quarter valued at approximately $49,000. AlphaCore Capital LLC acquired a new position in Flaherty & Crumrine Preferred and Income Fund in the 4th quarter worth approximately $127,000. Guggenheim Capital LLC purchased a new position in Flaherty & Crumrine Preferred and Income Fund during the 4th quarter worth approximately $232,000. Finally, 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. Institutional investors and hedge funds own 12.90% of the company’s stock.

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.