Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Stock Crosses Below 200 Day Moving Average – Here’s Why

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.46 and traded as low as $11.19. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.33, with a volume of 26,171 shares changing hands.

Flaherty & Crumrine Preferred Income Fund Stock Down 0.2 %

The stock has a fifty day simple moving average of $11.29 and a 200-day simple moving average of $11.46.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a dividend of $0.061 per share. This represents a $0.73 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date is Wednesday, April 23rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PFD. UMB Bank n.a. acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth about $971,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth approximately $39,000. Pathway Financial Advisers LLC grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 88.6% during the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 2,974 shares in the last quarter. Noble Wealth Management PBC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at $31,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at $2,036,000.

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.