Short Interest in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Decreases By 98.1%

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 100 shares, a decrease of 98.1% from the September 15th total of 5,300 shares. Based on an average daily trading volume, of 27,100 shares, the days-to-cover ratio is presently 0.0 days.

Institutional investors have recently made changes to their positions in the stock. UBS Group AG lifted its stake in Flaherty & Crumrine Preferred Income Fund by 8.7% during the 1st quarter. UBS Group AG now owns 80,741 shares of the real estate investment trust’s stock valued at $1,431,000 after acquiring an additional 6,445 shares during the period. Signature Wealth Management Partners LLC bought a new position in Flaherty & Crumrine Preferred Income Fund during the 1st quarter valued at about $254,000. Mid Atlantic Financial Management Inc. ADV bought a new position in Flaherty & Crumrine Preferred Income Fund during the 2nd quarter valued at about $290,000. Pinnacle Wealth Planning Services Inc. increased its position in shares of Flaherty & Crumrine Preferred Income Fund by 21.7% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $468,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Flaherty & Crumrine Preferred Income Fund by 1.6% during the 2nd quarter. Morgan Stanley now owns 167,592 shares of the real estate investment trust’s stock valued at $2,799,000 after purchasing an additional 2,664 shares during the last quarter.

Flaherty & Crumrine Preferred Income Fund stock traded down $0.02 during mid-day trading on Thursday, reaching $15.82. The stock had a trading volume of 400 shares, compared to its average volume of 26,351. The company has a 50-day moving average price of $16.11 and a two-hundred day moving average price of $16.89. Flaherty & Crumrine Preferred Income Fund has a one year low of $15.28 and a one year high of $20.88.

The company also recently declared a monthly dividend, which will be paid on Friday, October 29th. Investors of record on Friday, October 22nd will be paid a $0.0843 dividend. This represents a $1.01 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date is Thursday, October 21st.

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.

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