PFD: Closed-End Fund Faces Greater Risks Than Believed
ByAinvest
Tuesday, Dec 16, 2025 9:42 am ET1min read
PFD--
The Flaherty & Crumrine Preferred and Income Fund (PFD) aims to provide high current income to investors but its current yield is lower than its peers. Despite this, the fund's risks may be greater than believed due to its high leverage, significant investments in lower-rated securities, and its reliance on dividends from preferred stocks.
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