Flaherty & Crumrine Preferred and Income Fund Inc. $PFO Shares Acquired by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. increased its stake in Flaherty & Crumrine Preferred and Income Fund by 12.1%, owning 608,217 shares worth approximately $5.6 million at the end of the last reporting period.
• Flaherty & Crumrine Preferred and Income Fund recently announced a monthly dividend of $0.0512, set to be paid on October 31st, representing an annual yield of 6.6%.
• The stock opened at $9.29, with a 12-month low of $8.01 and a high of $9.54, indicating periods of relative stability and fluctuations over the past year.

Sit Investment Associates Inc. grew its holdings in shares of Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO - Free Report) by 12.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 608,217 shares of the company's stock after purchasing an additional 65,415 shares during the period. Sit Investment Associates Inc. owned approximately 4.65% of Flaherty & Crumrine Preferred and Income Fund worth $5,608,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PFO. Rossby Financial LCC acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund in the 1st quarter valued at approximately $28,000. Citadel Advisors LLC purchased a new position in Flaherty & Crumrine Preferred and Income Fund in the fourth quarter worth $97,000. Invesco Ltd. acquired a new stake in Flaherty & Crumrine Preferred and Income Fund in the fourth quarter valued at $113,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 1st quarter worth $129,000. Finally, Bank of America Corp DE boosted its position in shares of Flaherty & Crumrine Preferred and Income Fund by 7.4% during the 4th quarter. Bank of America Corp DE now owns 21,790 shares of the company's stock worth $196,000 after purchasing an additional 1,500 shares in the last quarter. 12.90% of the stock is owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

Shares of PFO traded down $0.02 during trading hours on Wednesday, reaching $9.26. The company had a trading volume of 115,493 shares, compared to its average volume of 53,180. The firm has a 50 day simple moving average of $9.24 and a 200-day simple moving average of $9.09. Flaherty & Crumrine Preferred and Income Fund Inc. has a 12-month low of $8.01 and a 12-month high of $9.54.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 25th will be given a dividend of $0.0512 per share. This represents a yield of 662.0%. The ex-dividend date is Friday, August 22nd.

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.