Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.48 and traded as low as $11.16. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.19, with a volume of 33,469 shares traded.

Flaherty & Crumrine Preferred Income Fund Stock Down 0.6 %

The business’s 50 day moving average price is $11.28 and its two-hundred day moving average price is $11.48.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be paid a $0.061 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Wednesday, April 23rd.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Institutional investors have recently made changes to their positions in the stock. Cary Street Partners Financial LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at approximately $444,000. Bridgewealth Advisory Group LLC lifted its stake in Flaherty & Crumrine Preferred Income Fund by 112.6% during the fourth quarter. Bridgewealth Advisory Group LLC now owns 27,733 shares of the real estate investment trust’s stock valued at $316,000 after purchasing an additional 14,688 shares during the last quarter. Lido Advisors LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at approximately $796,000. Stifel Financial Corp acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at approximately $307,000. Finally, Guggenheim Capital LLC acquired a new stake in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at approximately $228,000.

About Flaherty & Crumrine Preferred Income Fund

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.