LongView Wealth Management Trims Stock Holdings in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

LongView Wealth Management lessened its stake in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,668 shares of the real estate investment trust’s stock after selling 1,729 shares during the quarter. LongView Wealth Management’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Arbitrage LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter worth $403,000. Matisse Capital acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth about $197,000. Truist Financial Corp purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at about $170,000. Saba Capital Management L.P. acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter valued at about $232,000. Finally, Robinson Capital Management LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 3rd quarter valued at about $358,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of PFD remained flat at $10.44 during mid-day trading on Friday. 38,988 shares of the company traded hands, compared to its average volume of 31,011. Flaherty & Crumrine Preferred Income Fund Inc. has a twelve month low of $8.53 and a twelve month high of $10.70. The business has a fifty day moving average of $10.29 and a 200-day moving average of $10.23.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The business also recently declared a dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 23rd were issued a $0.0583 dividend. This represents a dividend yield of 6.74%. The ex-dividend date of this dividend was Wednesday, May 22nd. This is a positive change from Flaherty & Crumrine Preferred Income Fund’s previous dividend of $0.06.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.