Short Interest in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Declines By 34.1%

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 16,611 shares, a drop of 34.1% from the November 30th total of 25,200 shares. Based on an average daily volume of 47,259 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the company’s shares are sold short. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 47,259 shares, the short-interest ratio is currently 0.4 days.

Flaherty & Crumrine Preferred and Income Fund Price Performance

NYSE:PFO opened at $9.48 on Wednesday. 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 moving average price is $9.53 and its two-hundred day moving average price is $9.46.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 23rd will be paid a $0.0546 dividend. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Friday, January 23rd.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred and Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in Flaherty & Crumrine Preferred and Income Fund during the 2nd quarter worth $32,000. Raymond James Financial Inc. acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the second quarter worth about $49,000. NewEdge Advisors LLC lifted its holdings in shares of 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 valued at $287,000 after purchasing an additional 2,709 shares in the last quarter. Clifford Swan Investment Counsel LLC grew its position in shares of Flaherty & Crumrine Preferred and Income Fund by 96.7% in the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 29,500 shares of the company’s stock valued at $288,000 after purchasing an additional 14,500 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in Flaherty & Crumrine Preferred and Income Fund during the 1st quarter worth approximately $288,000. 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.