3,867 Shares in Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Bought by Arrow Financial Corp

Arrow Financial Corp purchased a new position in shares of Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,867 shares of the real estate investment trust’s stock, valued at approximately $40,000.

Other hedge funds have also bought and sold shares of the company. Private Wealth Strategies L.L.C. raised its stake in shares of Flaherty & Crumrine Preferred Income Fund by 1.8% in the fourth quarter. Private Wealth Strategies L.L.C. now owns 66,067 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 1,161 shares during the period. Matisse Capital raised its stake in shares of Flaherty & Crumrine Preferred Income Fund by 6.2% in the first quarter. Matisse Capital now owns 21,138 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 1,240 shares during the period. Pathway Financial Advisers LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Fund in the first quarter valued at $40,000. Robinson Capital Management LLC raised its stake in shares of Flaherty & Crumrine Preferred Income Fund by 12.4% in the fourth quarter. Robinson Capital Management LLC now owns 44,858 shares of the real estate investment trust’s stock valued at $449,000 after buying an additional 4,947 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Flaherty & Crumrine Preferred Income Fund by 32.7% in the fourth quarter. Raymond James & Associates now owns 22,307 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 5,500 shares during the period.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of PFD opened at $11.59 on Friday. The stock’s fifty day moving average price is $10.80 and its two-hundred day moving average price is $10.46. Flaherty & Crumrine Preferred Income Fund Inc. has a 1 year low of $8.53 and a 1 year high of $11.65.

Flaherty & Crumrine Preferred Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be given a $0.0594 dividend. The ex-dividend date is Monday, September 23rd. This is a boost from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06. This represents a $0.71 annualized dividend and a dividend yield of 6.15%.

Flaherty & Crumrine Preferred Income Fund Company 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.