Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Cross Below 200-Day Moving Average – What’s Next?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s share price 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 Performance

The business’s fifty day moving average price is $11.29 and its two-hundred day moving average price is $11.46.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PFD. Raymond James Financial Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund during the fourth quarter worth approximately $2,036,000. UMB Bank n.a. bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth $971,000. Lido Advisors LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at $796,000. Cary Street Partners Financial LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at $444,000. Finally, Sit Investment Associates Inc. raised its holdings in Flaherty & Crumrine Preferred Income Fund by 11.9% in the 4th quarter. Sit Investment Associates Inc. now owns 354,898 shares of the real estate investment trust’s stock worth $3,989,000 after acquiring an additional 37,822 shares during the period.

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.