Flaherty & Crumrine Preferred Income:PFD

    Manage Alerts

    Overview

    As of 11/24/2020

     Share
    Price
    NAVPremium/
    Discount
    Current$18.61$14.4428.88%
    52 Wk Avg$15.26$13.6111.98%
    52 Wk High$18.69$15.0729.79%
    52 Wk Low$7.34$9.00-15.72%
    Regular Distribution TypeIncome Only
    Distribution Rate5.55%
    Distribution Amount$0.0860
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    Investment objective is high current income for holders consistent with preservation of capital. The Fund primarily invests in preferred stock, with 80% of the value of its net assets being invested in such securities (i.e. under normal market conditions). At least 50% of the value of the Funds net assets will be invested in securities issued by the companies operating in utility and banking sectors. 25% of the value of the Funds assets may also be invested in the securities rated below investment grade.

    Capital Structure

    As of 11/24/2020

    Total Investment Exposure:$243.350M
    Total Common Assets:$163.250M
    Common Shares Outstanding:11,305,381
    Leverage

    As of 11/24/2020

    Preferred Share Assets:
    Total Debt (USD): $80.100M
    Regulatory Leverage (USD): $80.100M
    Effective Leverage (USD): $80.100M
    Effective Leverage (%): 32.92%
    Annual Expense Ratios

    As of 11/30/2019

      Per Common Share
    Management Fees0.85%
    Other Expenses:0.44%
    Baseline Expense: N/A
    Interest Expense:1.65%
    Total: 2.94%
    Fund Management

    Fund Sponsor
    Flaherty & Crumrine

    Portfolio Managers
    R. Eric Chadwick

    Basics
    Category: Fixed Income - Taxable-Preferreds
    Ticker: PFD
    NAV Ticker: XPFDX
    Average Daily Volume (shares): 33,236
    Average Daily Volume (USD): $0.480M
    Inception Date: 1/31/1991
    Inception Share Price: $15.00
    Inception NAV: $13.95
    Tender Offer: No
    Term: No
    Fiscal Year End: November 30
    Third Party Links & Reports

    Distributions

    As of 11/24/2020

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 5/31/2020
    $0.4689
    Annualized Distribution Rate on NAV:
    As of 11/24/2020
    7.15%
    Total Return on NAV (12 months):
    As of 11/24/2020
    2.54%
    Avg. Portfolio Coupon:
    As of 11/24/2020
    7.11%
    Total % Portfolio Effectively Leveraged:
    As of 11/24/2020
    32.92%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 11/24/2020

    PeriodAvg Discount
    6 Month16.57%
    1 Year11.98%
    3 Year4.85%
    5 Year5.45%
    Z-Score

    As of 11/24/2020

    PeriodZStat
    3 Month2.23
    6 Month2.35
    1 Year2.41
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 10/31/2020
    Category: Morningstar US CEF Preferreds

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD15.66%0.78%-6.84%-3.93%
    201943.74%24.98%34.61%24.84%
    2018-17.17%-7.33%-10.75%-7.07%
    201711.04%16.19%15.74%14.49%
    201621.34%8.26%12.97%6.81%
    2015-0.70%3.39%7.23%5.58%
    201424.29%18.21%18.73%17.64%
    2013-1.86%3.36%-4.38%2.61%
    20125.27%28.00%20.08%24.89%
    201133.19%7.60%15.57%6.61%
    201021.28%25.45%21.80%22.34%
    200997.03%76.19%61.55%52.52%
    2008-43.92%-41.71%-46.63%-46.45%
    2007-25.49%-15.19%  
    200612.03%8.27%  
    2005-5.71%3.18%  
    20046.43%7.86%  
    200330.94%25.48%  
    200211.34%3.08%  
    200130.91%15.65%  
    20007.31%5.18%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 10/31/2020
    Category: Morningstar US CEF Preferreds

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 11/24/2020
    7.11%
    Number of Holdings:
    As of 8/31/2020
    172
    Annual Portfolio Turnover:
    As of 11/30/2019
    17.00%
    Average Bond Price:
    As of 8/31/2020
    $115.15
    Asset Allocation

    As of 8/31/2020 reported by Fund Sponsor

    Top Sectors

    As of 8/31/2020 reported by Fund Sponsor

    Sector%Portfolio
    Corporate (Super Sector)99.14%
    Preferred Stock43.81%
    Corporate Bond36.22%
    Convertible19.11%
    Cash Equivalents0.59%
    Cash Equivalents (Super Sector)0.59%
    Top Holdings

    As of 8/31/2020 reported by Fund Sponsor

    HoldingValue% Portfolio
    PNC Financial Services Group Inc Perpetual Preferred Share class-P$6.74M2.86%
    Fifth Third Bancorp Deposit Shs Repr 1/1000th Non-Cum Perp Pfd Shs Series -$6.64M2.81%
    BNP Paribas 7.38%$6.06M2.57%
    Provident Financing Trust I 7.4%$5.96M2.53%
    MetLife Inc. 9.25%$5.42M2.30%
    JPMorgan Chase & Co Deposit Shs Repr 1/10th Non-Cum Perp Pfd Shs Series -S-$5.27M2.24%
    MetLife Inc. 10.75%$5.05M2.14%
    New York Community Bancorp Inc Non-Cum Perp Pfd Shs Series -A-$4.70M1.99%
    Liberty Mutual Group, Inc. 7.8%$4.64M1.97%
    QBE Insurance Group Limited 7.5%$4.53M1.92%
    Credit Quality

    As of 8/31/2020 reported by Fund Sponsor

    Maturity Breakdown

    As of 8/31/2020 reported by Fund Sponsor

    Country Allocation

    As of 8/31/2020 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income26.29%
    Switzerland - Fixed Income1.34%
    France - Fixed Income1.18%
    United Kingdom - Fixed Income0.90%
    Canada - Fixed Income0.83%
    Netherlands - Fixed Income0.63%
    Mexico - Fixed Income0.44%
    Australia - Fixed Income0.20%
    Germany - Fixed Income0.15%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    EWB-1014244PR-E1119W