Preferred Income Funds in Active Trader Links Directory

The Flaherty & Crumrine Preferred Income Fund (PFD) is a closed-end, diversified investment company which invests primarily in preferred stocks. It commenced investment operations in January, 1991 through an initial public offering of common stock. The Fund was subsequently leveraged by issuing Money Market Cumulative Preferred(TM) Stock (MMP) and currently has $80,000,000 of the MMP® outstanding. At August 2, 2007 there were 10,530,560 common shares outstanding. The Preferred Income Fund concentrates its investments in the utility and banking industries. Positions will vary from time to time, but normally utilities and banks will each account for at least 25% of the Funds portfolio. Naturally, the Fund will be significantly impacted by developments affecting these two industries. The investment objective of the Fund is high current income for holders of its common stock consistent with preservation of capital. What makes the Fund unusual, however, is the use of strategies which are expected to result in the Funds income increasing as long-term interest rates rise significantly, while being relatively resistant to declines in long-term interest rates. To learn more about the Fund, click the appropriate buttons above to see performance results, past and current income, and the portfolio overview.

Address: P.O. Box 1376, Boston, MA 02104
Telephone: (800) 331-1710
Website: http://www.preferredincome.com/