Ashton Thomas Private Wealth LLC Purchases Shares of 3,359 Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Ashton Thomas Private Wealth LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,359 shares of the real estate investment trust’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Matisse Capital increased its position in Flaherty & Crumrine Preferred Income Fund by 564.1% during the second quarter. Matisse Capital now owns 140,368 shares of the real estate investment trust’s stock worth $1,465,000 after acquiring an additional 119,230 shares during the period. Private Wealth Strategies L.L.C. increased its position in Flaherty & Crumrine Preferred Income Fund by 1.7% during 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 acquiring an additional 1,139 shares during the period. Robinson Capital Management LLC increased its position in Flaherty & Crumrine Preferred Income Fund by 22.3% during the first quarter. Robinson Capital Management LLC now owns 54,858 shares of the real estate investment trust’s stock worth $554,000 after acquiring an additional 10,000 shares during the period. Pathway Financial Advisors LLC bought a new position in Flaherty & Crumrine Preferred Income Fund during the second quarter worth $248,000. Finally, Truist Financial Corp bought a new position in Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth $170,000.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.4 %

Shares of PFD stock opened at $11.74 on Tuesday. Flaherty & Crumrine Preferred Income Fund Inc. has a 1 year low of $8.53 and a 1 year high of $11.88. The firm’s fifty day simple moving average is $11.05 and its 200 day simple moving average is $10.57.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be given a dividend of $0.0594 per share. The ex-dividend date is Monday, September 23rd. This represents a $0.71 dividend on an annualized basis and a yield of 6.07%. This is a positive change from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06.

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.