Flaherty & Crumrine Preferred and Income Fund Incorporated is a closed-end management investment company that primarily invests in a portfolio of preferred and other income-producing securities. The fund aims to provide high current income while preserving capital, with a significant focus on the financial sector, including banks, insurance, and diversified financial services. It may also invest in other sectors such as energy and utilities, and typically allocates at least 80% of its managed assets to these securities. The fund operates primarily in the U.S. but may also invest in U.S. dollar-denominated securities from foreign companies.
