Ashton Thomas Private Wealth LLC Invests $35,000 in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Ashton Thomas Private Wealth LLC purchased a new position in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,359 shares of the real estate investment trust’s stock, valued at approximately $35,000.

A number of other hedge funds have also made changes to their positions in the stock. First National Trust Co purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the second quarter worth approximately $110,000. Private Wealth Strategies L.L.C. increased its holdings in Flaherty & Crumrine Preferred Income Fund by 1.7% in 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 buying an additional 1,139 shares during the last quarter. Matisse Capital increased its holdings in Flaherty & Crumrine Preferred Income Fund by 564.1% in the second quarter. Matisse Capital now owns 140,368 shares of the real estate investment trust’s stock worth $1,465,000 after buying an additional 119,230 shares during the last quarter. Arrow Financial Corp acquired a new position in Flaherty & Crumrine Preferred Income Fund in the second quarter worth approximately $40,000. Finally, Pathway Financial Advisors LLC acquired a new position in Flaherty & Crumrine Preferred Income Fund in the second quarter worth approximately $248,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

NYSE:PFD opened at $11.74 on Tuesday. The stock’s 50 day moving average price is $11.05 and its 200 day moving average price is $10.57. Flaherty & Crumrine Preferred Income Fund Inc. has a 52 week low of $8.53 and a 52 week high of $11.88.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be issued a $0.0594 dividend. 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 an increase from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06.

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.