Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Passes Below Fifty Day Moving Average – What’s Next?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.36 and traded as low as $11.28. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.35, with a volume of 12,090 shares.

Flaherty & Crumrine Preferred Income Fund Price Performance

The firm’s fifty day simple moving average is $11.36 and its 200-day simple moving average is $11.29.

Flaherty & Crumrine Preferred Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be issued a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, January 24th.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

An institutional investor recently bought a new position in Flaherty & Crumrine Preferred Income Fund stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,359 shares of the real estate investment trust’s stock, valued at approximately $35,000.

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.