Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Announces Monthly Dividend of $0.06

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Friday, June 21st will be paid a dividend of 0.0583 per share by the real estate investment trust on Friday, June 28th. This represents a $0.70 annualized dividend and a dividend yield of 7.05%. The ex-dividend date is Friday, June 21st. This is a boost from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06.

Flaherty & Crumrine Preferred Income Fund has decreased its dividend payment by an average of 10.7% per year over the last three years and has increased 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. Flaherty & Crumrine Preferred Income Fund has a one year low of $8.53 and a one year high of $10.92. The company’s 50-day simple moving average is $10.29 and its 200-day simple moving average is $9.89.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Fund

Several large investors have recently modified their holdings of the stock. UBS Group AG lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 30.5% during the third quarter. UBS Group AG now owns 178,049 shares of the real estate investment trust’s stock worth $1,626,000 after purchasing an additional 41,636 shares during the last quarter. Centaurus Financial Inc. lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 15.8% during the first quarter. Centaurus Financial Inc. now owns 100,069 shares of the real estate investment trust’s stock worth $1,062,000 after purchasing an additional 13,633 shares during the last quarter. Invesco Ltd. lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 6.8% during the first quarter. Invesco Ltd. now owns 87,228 shares of the real estate investment trust’s stock worth $1,209,000 after purchasing an additional 5,576 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 16.2% during the third quarter. Royal Bank of Canada now owns 60,580 shares of the real estate investment trust’s stock worth $643,000 after purchasing an additional 8,431 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Flaherty & Crumrine Preferred Income Fund by 35.8% during the fourth quarter. Bank of America Corp DE now owns 50,766 shares of the real estate investment trust’s stock worth $564,000 after purchasing an additional 13,387 shares during the last quarter.

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.