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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.48 and traded as low as $11.32. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.33, with a volume of 26,263 shares changing hands.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.3%

The business has a fifty day moving average price of $11.41 and a 200 day moving average price of $11.48.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be given a dividend of $0.0703 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a c) dividend on an annualized basis and a yield of 7.5%.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 2nd quarter worth about $43,000. Western Wealth Management LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the first quarter valued at about $32,000. Allworth Financial LP acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the second quarter worth about $40,000. Fifth Third Bancorp bought a new position in Flaherty & Crumrine Preferred Income Fund during the first quarter valued at about $98,000. Finally, Beacon Pointe Advisors LLC bought a new position in Flaherty & Crumrine Preferred Income Fund during the second quarter valued at about $165,000.

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.