Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Short Interest Update

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) saw a large increase in short interest in May. As of May 29th, there was short interest totaling 16,157 shares, an increase of 498.0% from the May 14th total of 2,702 shares. Based on an average trading volume of 45,777 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

Flaherty & Crumrine Preferred and Income Fund Stock Up 0.1%

NYSE PFO traded up $0.01 during trading hours on Thursday, hitting $9.14. 14,190 shares of the company’s stock traded hands, compared to its average volume of 36,797. Flaherty & Crumrine Preferred and Income Fund has a 52-week low of $8.85 and a 52-week high of $9.90. The firm’s 50-day moving average is $9.19 and its 200-day moving average is $9.36.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be paid a dividend of $0.0556 per share. This represents a c) annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Friday, July 24th.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

Several large investors have recently bought and sold shares of the business. Sit Investment Associates Inc. grew its stake in Flaherty & Crumrine Preferred and Income Fund by 5.9% during the 4th quarter. Sit Investment Associates Inc. now owns 1,328,546 shares of the company’s stock valued at $12,555,000 after acquiring an additional 73,704 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Flaherty & Crumrine Preferred and Income Fund during the 3rd quarter valued at about $5,738,000. Pathstone Holdings LLC acquired a new position in Flaherty & Crumrine Preferred and Income Fund in the 3rd quarter valued at about $3,073,000. Advisors Asset Management Inc. boosted its holdings in Flaherty & Crumrine Preferred and Income Fund by 228.6% in the 4th quarter. Advisors Asset Management Inc. now owns 309,687 shares of the company’s stock valued at $2,927,000 after purchasing an additional 215,441 shares during the last quarter. Finally, 1607 Capital Partners LLC boosted its holdings in Flaherty & Crumrine Preferred and Income Fund by 32.5% in the 4th quarter. 1607 Capital Partners LLC now owns 263,244 shares of the company’s stock valued at $2,488,000 after purchasing an additional 64,634 shares during the last quarter. Hedge funds and other institutional investors 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.