Raymond James Financial Inc. Invests $2.04 Million in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Raymond James Financial Inc. acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 181,175 shares of the real estate investment trust’s stock, valued at approximately $2,036,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFD. McClarren Financial Advisors Inc. purchased a new position in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at $39,000. Noble Wealth Management PBC bought a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth $31,000. Pathway Financial Advisers LLC increased its stake in Flaherty & Crumrine Preferred Income Fund by 88.6% in the 4th quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 2,974 shares in the last quarter. Finally, UMB Bank n.a. bought a new stake in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at about $971,000.

Flaherty & Crumrine Preferred Income Fund Price Performance

Shares of PFD opened at $11.21 on Monday. The business’s 50 day moving average is $11.29 and its 200 day moving average is $11.45. Flaherty & Crumrine Preferred Income Fund Inc. has a 12-month low of $9.80 and a 12-month high of $12.08.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a $0.061 dividend. This represents a $0.73 annualized dividend and a yield of 6.53%. The ex-dividend date is Wednesday, April 23rd.

Flaherty & Crumrine Preferred Income Fund 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.