Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Short Interest Up 4,300.0% in March

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,400 shares, an increase of 4,300.0% from the February 29th total of 100 shares. Based on an average daily trading volume, of 34,200 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG increased its position in shares of Flaherty & Crumrine Preferred Income Fund by 30.5% during the 3rd quarter. UBS Group AG now owns 178,049 shares of the real estate investment trust’s stock valued at $1,626,000 after purchasing an additional 41,636 shares during the last quarter. Wolverine Asset Management LLC increased its position in shares of Flaherty & Crumrine Preferred Income Fund by 156.1% during the 3rd quarter. Wolverine Asset Management LLC now owns 114,050 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 69,513 shares during the last quarter. Centaurus Financial Inc. increased its holdings in Flaherty & Crumrine Preferred Income Fund by 15.8% in the 1st quarter. Centaurus Financial Inc. now owns 100,069 shares of the real estate investment trust’s stock worth $1,062,000 after acquiring an additional 13,633 shares in the last quarter. Invesco Ltd. increased its holdings in Flaherty & Crumrine Preferred Income Fund by 6.8% in the 1st quarter. Invesco Ltd. now owns 87,228 shares of the real estate investment trust’s stock worth $1,209,000 after acquiring an additional 5,576 shares in the last quarter. Finally, Private Wealth Strategies L.L.C. increased its holdings in Flaherty & Crumrine Preferred Income Fund by 1.8% in the 4th quarter. Private Wealth Strategies L.L.C. now owns 66,067 shares of the real estate investment trust’s stock worth $653,000 after acquiring an additional 1,161 shares in the last quarter.

Flaherty & Crumrine Preferred Income Fund Price Performance

Shares of NYSE:PFD opened at $10.61 on Friday. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $8.53 and a fifty-two week high of $11.18. The business has a 50-day simple moving average of $10.31 and a two-hundred day simple moving average of $9.79.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 23rd will be given a $0.0555 dividend. This represents a $0.67 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date of this dividend is Monday, April 22nd.

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.