Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO - Get Free Report) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 7,112 shares, a drop of 29.0% from the February 12th total of 10,019 shares. Based on an average daily trading volume, of 27,673 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company's stock are sold short. Currently, 0.1% of the company's stock are sold short. Based on an average daily trading volume, of 27,673 shares, the short-interest ratio is presently 0.3 days.
Flaherty & Crumrine Preferred and Income Fund Trading Down 0.1%
Shares of NYSE PFO traded down $0.01 during trading hours on Friday, hitting $9.19. 22,869 shares of the stock were exchanged, compared to its average volume of 32,083. The firm has a fifty day moving average price of $9.54 and a 200-day moving average price of $9.56. Flaherty & Crumrine Preferred and Income Fund has a 12 month low of $8.01 and a 12 month high of $9.90.
Flaherty & Crumrine Preferred and Income Fund Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be issued a $0.0546 dividend. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Thursday, April 23rd.
Hedge Funds Weigh In On Flaherty & Crumrine Preferred and Income Fund
Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in shares of Flaherty & Crumrine Preferred and Income Fund by 4.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 138,408 shares of the company's stock worth $1,280,000 after purchasing an additional 6,058 shares in the last quarter. Invesco Ltd. increased its position in Flaherty & Crumrine Preferred and Income Fund by 17.1% during the 2nd quarter. Invesco Ltd. now owns 43,592 shares of the company's stock valued at $403,000 after buying an additional 6,372 shares in the last quarter. Baird Financial Group Inc. raised its stake in Flaherty & Crumrine Preferred and Income Fund by 37.4% in the second quarter. Baird Financial Group Inc. now owns 42,878 shares of the company's stock valued at $397,000 after buying an additional 11,682 shares during the last quarter. NewEdge Advisors LLC raised its stake in Flaherty & Crumrine Preferred and Income Fund by 9.5% in the second quarter. NewEdge Advisors LLC now owns 31,081 shares of the company's stock valued at $287,000 after buying an additional 2,709 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the second quarter worth about $49,000. 12.90% of the stock is owned by institutional investors and hedge funds.
About Flaherty & Crumrine Preferred and Income Fund
(
Get Free Report)
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.
Further Reading
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