Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.81 and traded as low as $11.00. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.0050, with a volume of 23,474 shares trading hands.

Flaherty & Crumrine Preferred Income Fund Trading Up 1.2%

The company’s fifty day simple moving average is $11.69 and its 200-day simple moving average is $11.80.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 23rd will be given a $0.0672 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.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter worth $5,305,000. MGO One Seven LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 3rd quarter worth $2,023,000. Fiera Capital Corp purchased a new position in Flaherty & Crumrine Preferred Income Fund during the 3rd quarter worth $1,196,000. Sit Investment Associates Inc. increased its position in Flaherty & Crumrine Preferred Income Fund by 8.5% during the 4th quarter. Sit Investment Associates Inc. now owns 1,176,356 shares of the real estate investment trust’s stock valued at $13,963,000 after buying an additional 91,962 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the third quarter valued at about $629,000.

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.