Flaherty & Crumrine Preferred Income Fund Inc. Announces Monthly Dividend of $0.06 (NYSE:PFD)

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Friday, July 21st, Wall Street Journal reports. Investors of record on Friday, September 22nd will be given a dividend of 0.055 per share by the real estate investment trust on Friday, September 29th. This represents a $0.66 annualized dividend and a yield of 6.99%. The ex-dividend date of this dividend is Thursday, September 21st.

Flaherty & Crumrine Preferred Income Fund has decreased its dividend payment by an average of 0.5% per year over the last three years.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of PFD stock opened at $9.44 on Tuesday. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $9.40 and a fifty-two week high of $12.97. The stock’s fifty day moving average is $9.84 and its two-hundred day moving average is $10.08.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of PFD. Northwestern Mutual Wealth Management Co. raised its holdings in Flaherty & Crumrine Preferred Income Fund by 109.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,329 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 1,219 shares during the last quarter. NewEdge Advisors LLC lifted its position in Flaherty & Crumrine Preferred Income Fund by 6.0% during the first quarter. NewEdge Advisors LLC now owns 25,109 shares of the real estate investment trust’s stock worth $250,000 after buying an additional 1,429 shares in the last quarter. UBS Group AG boosted its stake in Flaherty & Crumrine Preferred Income Fund by 1.3% during the first quarter. UBS Group AG now owns 107,365 shares of the real estate investment trust’s stock worth $1,139,000 after buying an additional 1,430 shares during the last quarter. Susquehanna International Group LLP grew its holdings in Flaherty & Crumrine Preferred Income Fund by 14.7% in the 4th quarter. Susquehanna International Group LLP now owns 13,070 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 1,680 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 7.6% during the 1st quarter. Bank of America Corp DE now owns 28,916 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 2,032 shares during the period.

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.