Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Plans $0.06 Monthly Dividend

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD – Get Rating) declared a monthly dividend on Tuesday, January 24th, Wall Street Journal reports. Shareholders of record on Friday, April 21st will be given a dividend of 0.059 per share by the real estate investment trust on Friday, April 28th. This represents a $0.71 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date is Thursday, April 20th.

Flaherty & Crumrine Preferred Income Fund has decreased its dividend payment by an average of 1.7% annually over the last three years.

Flaherty & Crumrine Preferred Income Fund Trading Up 0.4 %

Shares of PFD opened at $12.33 on Wednesday. Flaherty & Crumrine Preferred Income Fund has a fifty-two week low of $10.13 and a fifty-two week high of $16.62. The stock has a fifty day moving average of $11.53 and a two-hundred day moving average of $11.60.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PFD. Royal Bank of Canada grew its holdings in Flaherty & Crumrine Preferred Income Fund by 16.2% in the third quarter. Royal Bank of Canada now owns 60,580 shares of the real estate investment trust’s stock valued at $643,000 after purchasing an additional 8,431 shares during the period. UBS Group AG raised its position in shares of Flaherty & Crumrine Preferred Income Fund by 16.1% in the 3rd quarter. UBS Group AG now owns 101,963 shares of the real estate investment trust’s stock worth $1,082,000 after buying an additional 14,134 shares during the period. Captrust Financial Advisors acquired a new position in Flaherty & Crumrine Preferred Income Fund in the second quarter valued at $55,000. NewEdge Advisors LLC increased its stake in Flaherty & Crumrine Preferred Income Fund by 31.3% during the second quarter. NewEdge Advisors LLC now owns 14,250 shares of the real estate investment trust’s stock worth $179,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 7.6% in the 1st quarter. Bank of America Corp DE now owns 28,916 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 2,032 shares in the last quarter.

About Flaherty & Crumrine Preferred Income Fund

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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.