Flaherty & Crumrine Preferred Income Fund, Inc. is a closed-end diversified investment company. It focuses on its investments in the financial sector such as bank, thrifts and mortgage finance, diversified financial services, finance, consumer finance, capital markets, asset management and custody, investment banking and brokerage, insurance, insurance brokers, and real estate investment trust industries. The funds investment objective is to provide its common shareholders with high current income consistent with the preservation of capital. The company was founded on September 28, 1990 and is headquartered in Pasadena, CA.