Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Sees Large Drop in Short Interest

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 20,600 shares, a decrease of 33.3% from the December 15th total of 30,900 shares. Based on an average trading volume of 28,100 shares, the days-to-cover ratio is currently 0.7 days.

Flaherty & Crumrine Preferred Income Fund Stock Performance

NYSE PFD opened at $11.14 on Tuesday. Flaherty & Crumrine Preferred Income Fund has a one year low of $9.80 and a one year high of $12.08. The company’s 50 day moving average price is $11.34 and its 200 day moving average price is $11.32.

Flaherty & Crumrine Preferred Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be given a $0.03 dividend. This represents a $0.36 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, January 24th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Flaherty & Crumrine Preferred Income Fund stock. Ellis Investment Partners LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,442 shares of the real estate investment trust’s stock, valued at approximately $125,000.

Flaherty & Crumrine Preferred Income Fund Company 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.