1607 Capital Partners LLC Invests $1.94 Million in Flaherty & Crumrine Preferred and Income Fund Inc. $PFO

Key Points

• 1607 Capital Partners LLC bought 198,610 shares (about a 1.52% stake) of Flaherty & Crumrine Preferred and Income Fund (PFO) in Q3, valued at approximately $1.94 million.
• The fund declared a monthly dividend of $0.0546 per share (annualized yield ~7.1%); the ex-dividend and record date are April 23 and the payment date is April 30.
• PFO is a closed-end fund focused on preferred and hybrid securities seeking current income, with shares trading near $9.19 (50/200‑day averages ~$9.54/$9.56) and institutional ownership around 12.9%.

1607 Capital Partners LLC bought a new stake in Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 198,610 shares of the company's stock, valued at approximately $1,936,000. 1607 Capital Partners LLC owned about 1.52% of Flaherty & Crumrine Preferred and Income Fund as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Private Advisor Group LLC grew its stake in Flaherty & Crumrine Preferred and Income Fund by 0.9% during the 3rd quarter. Private Advisor Group LLC now owns 191,153 shares of the company's stock valued at $1,864,000 after acquiring an additional 1,745 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 9.5% during the 2nd quarter. NewEdge Advisors LLC now owns 31,081 shares of the company's stock worth $287,000 after purchasing an additional 2,709 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the second quarter valued at approximately $49,000. Envestnet Asset Management Inc. grew its position in shares of Flaherty & Crumrine Preferred and Income Fund by 4.6% in the second quarter. Envestnet Asset Management Inc. now owns 138,408 shares of the company's stock valued at $1,280,000 after purchasing an additional 6,058 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Flaherty & Crumrine Preferred and Income Fund by 17.1% in the second quarter. Invesco Ltd. now owns 43,592 shares of the company's stock valued at $403,000 after purchasing an additional 6,372 shares during the last quarter. 12.90% of the stock is currently owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred and Income Fund Trading Down 0.1%

Shares of Flaherty & Crumrine Preferred and Income Fund stock opened at $9.19 on Friday. The business's 50 day moving average price is $9.54 and its 200 day moving average price is $9.56. Flaherty & Crumrine Preferred and Income Fund Inc. has a one year low of $8.01 and a one year high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 23rd will be issued a dividend of $0.0546 per share. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Thursday, April 23rd.

Flaherty & Crumrine Preferred and Income Fund Company Profile

Flaherty & Crumrine Preferred and Income Fund NYSE: PFO is a closed-end management investment company designed to provide investors with a high level of current income. The fund focuses its portfolio primarily on preferred and participating securities, including traditional preferred shares, convertible preferred instruments, trust preferred issues and other hybrid securities issued by corporations and financial institutions.

Through broad diversification across industry sectors and geographies, PFO aims to manage credit and interest-rate risk while pursuing attractive yield opportunities.

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