Stifel Financial Corp Makes New Investment in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)

Stifel Financial Corp purchased a new stake in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 27,292 shares of the real estate investment trust’s stock, valued at approximately $307,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PFD. Commonwealth Equity Services LLC raised its stake in Flaherty & Crumrine Preferred Income Fund by 11.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 1,919 shares during the period. Noble Wealth Management PBC bought a new position in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at $31,000. Pathway Financial Advisers LLC increased its holdings in Flaherty & Crumrine Preferred Income Fund by 88.6% during the fourth quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 2,974 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Flaherty & Crumrine Preferred Income Fund during the fourth quarter valued at $39,000. Finally, Guggenheim Capital LLC bought a new stake in Flaherty & Crumrine Preferred Income Fund in the 4th quarter valued at about $228,000.

Flaherty & Crumrine Preferred Income Fund Trading Down 0.3%

Flaherty & Crumrine Preferred Income Fund stock opened at $11.12 on Thursday. The firm has a 50 day simple moving average of $10.98 and a 200 day simple moving average of $11.21. Flaherty & Crumrine Preferred Income Fund Inc. has a 1-year low of $10.10 and a 1-year high of $12.08.

Flaherty & Crumrine Preferred Income Fund Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 23rd will be paid a dividend of $0.0622 per share. The ex-dividend date is Monday, June 23rd. This represents a yield of 6.9%.

Flaherty & Crumrine Preferred Income Fund Profile

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.