Baird Financial Group Inc. Invests $288,000 in Flaherty & Crumrine Preferred and Income Fund Inc. $PFO

Baird Financial Group Inc. bought a new stake in shares of Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 31,196 shares of the company’s stock, valued at approximately $288,000.

Other large 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 1st quarter valued at $28,000. Citadel Advisors LLC acquired a new position in Flaherty & Crumrine Preferred and Income Fund during the 4th quarter valued at $97,000. Vanguard Capital Wealth Advisors acquired a new position in Flaherty & Crumrine Preferred and Income Fund during the 1st quarter valued at $129,000. Bank of America Corp DE raised its stake in Flaherty & Crumrine Preferred and Income Fund by 7.4% during the 4th quarter. Bank of America Corp DE now owns 21,790 shares of the company’s stock valued at $196,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Flaherty & Crumrine Preferred and Income Fund by 195.7% during the 1st quarter. Invesco Ltd. now owns 37,220 shares of the company’s stock valued at $343,000 after purchasing an additional 24,633 shares during the last quarter. 12.90% of the stock is currently owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred and Income Fund Stock Performance

Shares of PFO stock opened at $9.60 on Friday. Flaherty & Crumrine Preferred and Income Fund Inc. has a 52-week low of $8.01 and a 52-week high of $9.60. The firm has a fifty day moving average of $9.30 and a 200-day moving average of $9.11.

Flaherty & Crumrine Preferred and Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be issued a $0.0512 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 6.4%.

About Flaherty & Crumrine Preferred and Income Fund

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.