Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Price Passes Below 200-Day Moving Average of $11.84

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFDGet Rating)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.84 and traded as low as $10.93. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.16, with a volume of 53,748 shares traded.

Flaherty & Crumrine Preferred Income Fund Price Performance

The firm’s 50-day moving average is $10.74 and its 200-day moving average is $11.84.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 22nd will be given a $0.061 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.73 annualized dividend and a yield of 6.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFD. Wolverine Asset Management LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund in the third quarter worth $42,000. Prospera Financial Services Inc bought a new stake in Flaherty & Crumrine Preferred Income Fund in the first quarter worth $53,000. Captrust Financial Advisors bought a new stake in Flaherty & Crumrine Preferred Income Fund in the second quarter worth $55,000. McClarren Financial Advisors Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund in the third quarter worth $94,000. Finally, Creative Planning bought a new stake in Flaherty & Crumrine Preferred Income Fund in the third quarter worth $107,000.

About Flaherty & Crumrine Preferred Income Fund

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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.

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