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Price
$11.59Last Dividend
$0.06Annual Revenue
$2.59 MAnnual ROE
1.37%Beta
0.35Events Calendar
Next earnings date:
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Nov 21, 2024Next split:
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PASADENA, Calif.--(BUSINESS WIRE)--The Boards of Directors of Flaherty & Crumrine Preferred and Income Fund Incorporated (NYSE: PFD), Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated (NYSE: PFO), Flaherty & Crumrine Preferred and Income Securities Fund Incorporated (NYSE: FFC), Flaherty & Crumrine Total Return Fund Incorporated (NYSE: FLC) and Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (NYSE: DFP) today announced that they have d.
The Flaherty & Crumrine Preferred Income Fund has a much lower yield than its peers, but its overall performance over the past year has been admirable. The PFD closed-end fund's distribution has increased three times in the past year, outpacing inflation, and is almost fully covered by net investment income. The fund has substantial exposure to the banking sector, but this does not appear to be a considerable risk with interest rates coming down.
Flaherty & Crumrine Preferred Income Fund's yield is lower than some other fixed-income closed-end funds, but still offers a high level of current income. The PFD closed-end fund's share price has been negatively impacted by the rising interest rate environment, resulting in a significant decline in value. The fund is trading at a price below its intrinsic value, making it a potential opportunity for investors.
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