Ellis Investment Partners LLC Takes $125,000 Position in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Ellis Investment Partners LLC purchased a new stake in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,442 shares of the real estate investment trust’s stock, valued at approximately $125,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PFD. Ashton Thomas Private Wealth LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter valued at approximately $35,000. Arrow Financial Corp acquired a new position in Flaherty & Crumrine Preferred Income Fund during the second quarter worth $40,000. Pathway Financial Advisers LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund during the first quarter worth $40,000. First National Trust Co acquired a new position in Flaherty & Crumrine Preferred Income Fund during the second quarter worth $110,000. Finally, SpiderRock Advisors LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund during the first quarter worth $121,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of PFD opened at $11.78 on Monday. Flaherty & Crumrine Preferred Income Fund Inc. has a 12 month low of $8.64 and a 12 month high of $12.08. The firm has a fifty day simple moving average of $11.74 and a 200 day simple moving average of $10.89.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be issued a dividend of $0.061 per share. This is a boost from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06. The ex-dividend date is Thursday, November 21st. This represents a $0.73 annualized dividend and a yield of 6.21%.

Flaherty & Crumrine Preferred Income Fund Profile

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.