Landscape Capital Management L.L.C. Cuts Stock Holdings in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Landscape Capital Management L.L.C. decreased its position in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) by 58.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 21,384 shares of the real estate investment trust’s stock after selling 29,712 shares during the period. Landscape Capital Management L.L.C.’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PFD. Pathway Financial Advisers LLC purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the first quarter worth approximately $40,000. Pathway Financial Advisors LLC purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the second quarter worth approximately $248,000. Arrow Financial Corp purchased a new stake in Flaherty & Crumrine Preferred Income Fund in the second quarter worth approximately $40,000. Matisse Capital boosted its holdings in Flaherty & Crumrine Preferred Income Fund by 564.1% in the second quarter. Matisse Capital now owns 140,368 shares of the real estate investment trust’s stock worth $1,465,000 after purchasing an additional 119,230 shares during the last quarter. Finally, Private Wealth Strategies L.L.C. boosted its holdings in Flaherty & Crumrine Preferred Income Fund by 1.7% in the second quarter. Private Wealth Strategies L.L.C. now owns 68,628 shares of the real estate investment trust’s stock worth $716,000 after purchasing an additional 1,139 shares during the last quarter.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of PFD stock opened at $11.25 on Tuesday. Flaherty & Crumrine Preferred Income Fund Inc. has a 12-month low of $9.42 and a 12-month high of $12.08. The firm’s 50 day moving average is $11.70 and its 200 day moving average is $11.07.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be issued a $0.061 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.73 annualized dividend and a yield of 6.51%. This is a boost from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06.

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.