31,196 Shares in Flaherty & Crumrine Preferred and Income Fund Inc. $PFO Purchased by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. recently acquired a new position in Flaherty & Crumrine Preferred and Income Fund, purchasing 31,196 shares valued at approximately $288,000.
• Approximately 12.90% of Flaherty & Crumrine Preferred and Income Fund's stock is owned by institutional investors and hedge funds, indicating significant interest from larger financial entities.
• The fund declared a monthly dividend of $0.0512 per share, with a dividend yield of 6.4%, scheduled for payment on September 30th to shareholders recorded by September 23rd.

Baird Financial Group Inc. acquired a new position in shares of Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,196 shares of the company's stock, valued at approximately $288,000. Baird Financial Group Inc. owned 0.24% of Flaherty & Crumrine Preferred and Income Fund as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Rossby Financial LCC purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the first quarter valued at $28,000. Citadel Advisors LLC purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the fourth quarter valued at $97,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the first quarter valued at $129,000. Bank of America Corp DE boosted its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 7.4% during the fourth quarter. Bank of America Corp DE now owns 21,790 shares of the company's stock valued at $196,000 after purchasing an additional 1,500 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Flaherty & Crumrine Preferred and Income Fund by 195.7% during the first quarter. Invesco Ltd. now owns 37,220 shares of the company's stock valued at $343,000 after purchasing an additional 24,633 shares during the period. 12.90% of the stock is owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred and Income Fund Stock Up 0.4%

Shares of PFO traded up $0.04 during trading hours on Wednesday, reaching $9.77. 94,633 shares of the company traded hands, compared to its average volume of 72,864. Flaherty & Crumrine Preferred and Income Fund Inc. has a 12-month low of $8.01 and a 12-month high of $9.81. The stock's fifty day moving average price is $9.33 and its 200 day moving average price is $9.12.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be paid a dividend of $0.0512 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Tuesday, September 23rd.

Flaherty & Crumrine Preferred and Income Fund Profile

Flaherty & Crumrine Preferred Income Opportunity 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 stocks of companies operating in the financial services sector.