Sit Investment Associates Inc. Has $5.61 Million Holdings in Flaherty & Crumrine Preferred and Income Fund Inc. $PFO

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

Other institutional investors have also recently bought and sold shares of the company. Rossby Financial LCC acquired a new position in Flaherty & Crumrine Preferred and Income Fund during the first quarter worth about $28,000. Citadel Advisors LLC acquired a new position in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter worth about $97,000. Invesco Ltd. acquired a new position in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter worth about $113,000. Vanguard Capital Wealth Advisors bought a new position in Flaherty & Crumrine Preferred and Income Fund in the 1st quarter valued at approximately $129,000. Finally, Bank of America Corp DE raised its holdings in Flaherty & Crumrine Preferred and Income Fund by 7.4% in the 4th quarter. Bank of America Corp DE now owns 21,790 shares of the company's stock valued at $196,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 12.90% of the company's stock.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.2%

Shares of PFO stock traded up $0.0150 on Tuesday, hitting $9.2850. The company had a trading volume of 44,341 shares, compared to its average volume of 31,988. Flaherty & Crumrine Preferred and Income Fund Inc. has a twelve month low of $8.01 and a twelve month high of $9.54. The stock's 50-day moving average is $9.23 and its two-hundred day moving average is $9.08.

Flaherty & Crumrine Preferred and Income Fund Dividend Announcement

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

Flaherty & Crumrine Preferred and Income Fund Company 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.