Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Stake Increased by Robinson Capital Management LLC

Robinson Capital Management LLC increased its holdings in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFDFree Report) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,858 shares of the real estate investment trust’s stock after buying an additional 4,947 shares during the quarter. Robinson Capital Management LLC’s holdings in Flaherty & Crumrine Preferred Income Fund were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PFD. Wolverine Asset Management LLC raised its holdings in Flaherty & Crumrine Preferred Income Fund by 156.1% during the third quarter. Wolverine Asset Management LLC now owns 114,050 shares of the real estate investment trust’s stock valued at $1,041,000 after buying an additional 69,513 shares in the last quarter. AQR Arbitrage LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund in the third quarter valued at $403,000. Saba Capital Management L.P. bought a new stake in Flaherty & Crumrine Preferred Income Fund in the third quarter valued at about $232,000. Matisse Capital bought a new position in shares of Flaherty & Crumrine Preferred Income Fund during the 4th quarter worth approximately $197,000. Finally, Truist Financial Corp bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the 4th quarter worth about $170,000.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of NYSE:PFD remained flat at $10.37 during trading on Friday. 13,695 shares of the stock were exchanged, compared to its average volume of 30,308. The firm has a 50 day simple moving average of $10.29 and a 200-day simple moving average of $10.09. Flaherty & Crumrine Preferred Income Fund Inc. has a 52 week low of $8.53 and a 52 week high of $10.70.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 24th will be given a $0.0583 dividend. This represents a $0.70 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend is Wednesday, July 24th.

About Flaherty & Crumrine Preferred Income Fund

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Flaherty & Crumrine Preferred Income Fund (NYSE:PFD)

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