Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) to Issue Monthly Dividend of $0.05

Key Points

• Flaherty & Crumrine Preferred and Income Fund declared a monthly dividend of $0.0546 per share, payable April 30 to shareholders of record on April 23, implying an annualized yield of about 7.0%.
• PFO opened at $9.38, with a 1-year range of $8.01 to $9.90 and 50- and 200-day moving averages of about $9.32 and $9.48, respectively.
• The closed-end fund focuses on preferred and hybrid securities to generate current income, and roughly 12.9% of its shares are owned by institutional investors amid several recent small institutional buys.

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO - Get Free Report) declared a monthly dividend on Friday, January 23rd. Stockholders of record on Thursday, April 23rd will be paid a dividend of 0.0546 per share on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Thursday, April 23rd.

Flaherty & Crumrine Preferred and Income Fund Trading Up 0.2%

NYSE PFO opened at $9.38 on Tuesday. The company has a 50 day moving average of $9.32 and a 200-day moving average of $9.48. Flaherty & Crumrine Preferred and Income Fund has a 1-year low of $8.01 and a 1-year high of $9.90.

Institutional Trading of Flaherty & Crumrine Preferred and Income Fund

A number of institutional investors have recently modified their holdings of PFO. Webster Bank N. A. acquired a new stake in shares of Flaherty & Crumrine Preferred and Income Fund during the 4th quarter worth $28,000. Raymond James Financial Inc. acquired a new position in Flaherty & Crumrine Preferred and Income Fund in the second quarter valued at about $49,000. AlphaCore Capital LLC bought a new stake in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter worth about $127,000. Guggenheim Capital LLC bought a new stake in Flaherty & Crumrine Preferred and Income Fund during the fourth quarter worth about $232,000. Finally, NewEdge Advisors LLC grew its stake in Flaherty & Crumrine Preferred and Income Fund by 9.5% during the second quarter. NewEdge Advisors LLC now owns 31,081 shares of the company's stock worth $287,000 after buying an additional 2,709 shares in the last quarter. 12.90% of the stock is currently owned by institutional investors.

About Flaherty & Crumrine Preferred and Income Fund

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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