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

Raymond James Financial Inc. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 181,175 shares of the real estate investment trust’s stock, valued at approximately $2,036,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFD. Noble Wealth Management PBC bought a new stake in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at about $31,000. Pathway Financial Advisers LLC raised its position in shares of 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 acquiring an additional 2,974 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Flaherty & Crumrine Preferred Income Fund in the fourth quarter worth $39,000. Finally, UMB Bank n.a. bought a new position in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth $971,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of NYSE:PFD opened at $11.21 on Monday. The business has a fifty day moving average price of $11.29 and a two-hundred day moving average price of $11.45. Flaherty & Crumrine Preferred Income Fund Inc. has a 1 year low of $9.80 and a 1 year high of $12.08.

Flaherty & Crumrine Preferred Income Fund Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.53%.

Flaherty & Crumrine Preferred Income Fund Company 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.