Flaherty & Crumrine Preferred and Income Fund Inc

Company Profile

The Flaherty & Crumrine Preferred and Income Fund ("PFD") is a closed-end, diversified investment company which invests at least 80% of its managed assets in a portfolio of preferred and other income-producing securities. It commenced investment operations in January, 1991 through an initial public offering of common stock. The Fund also uses financial leverage as a strategy to achive its investment objective. At February 1, 2021 there were 11,318,353 common shares outstanding. The Preferred and Income Fund concentrates its investments in the financials sector, which for this purpose is comprised of the bank, thrifts & mortgage finance, diversified financial services, finance, consumer finance, capital markets, asset management & custody, investment banking & brokerage, insurance, insurance brokers and real estate investment trust (REIT) industries. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Naturally, the Fund will be significantly impacted by developments affecting these industries. The investment objective of the Fund is high current income for holders of its common stock consistent with preservation of capital.