Flaherty & Crumrine Preferred Income Fund Inc. (PFD) to Issue Monthly Dividend of $0.06 on April 30th

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Friday, January 19th, Wall Street Journal reports. Shareholders of record on Tuesday, April 23rd will be paid a dividend of 0.0555 per share by the real estate investment trust on Tuesday, April 30th. This represents a $0.67 annualized dividend and a dividend yield of 6.71%. The ex-dividend date is Monday, April 22nd.

Flaherty & Crumrine Preferred Income Fund has decreased its dividend by an average of 10.7% annually over the last three years and has raised its dividend annually for the last 1 consecutive years.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.2 %

Shares of PFD stock opened at $9.93 on Friday. The stock’s 50-day moving average is $10.29 and its two-hundred day moving average is $9.89. Flaherty & Crumrine Preferred Income Fund has a 1 year low of $8.53 and a 1 year high of $10.92.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 109.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,329 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 1,219 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund during the second quarter worth about $55,000. Comerica Bank grew its holdings in shares of Flaherty & Crumrine Preferred Income Fund by 226.7% during the fourth quarter. Comerica Bank now owns 7,481 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 5,191 shares during the last quarter. Susquehanna International Group LLP boosted its stake in shares of Flaherty & Crumrine Preferred Income Fund by 14.7% during the fourth quarter. Susquehanna International Group LLP now owns 13,070 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 1,680 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Fund during the first quarter worth about $150,000.

About Flaherty & Crumrine Preferred Income Fund

Flaherty & Crumrine Preferred Income 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 the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.