Short Interest in Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) Declines By 60.8%

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 2,286 shares, a drop of 60.8% from the June 30th total of 5,832 shares. Based on an average daily volume of 12,721 shares, the short-interest ratio is presently 0.2 days.

Flaherty & Crumrine Total Return Fund Price Performance

NYSE:FLC opened at $16.63 on Wednesday. The stock has a 50 day simple moving average of $16.82 and a 200 day simple moving average of $17.14. Flaherty & Crumrine Total Return Fund has a 1-year low of $15.89 and a 1-year high of $18.09.

Flaherty & Crumrine Total Return Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be given a dividend of $0.1067 per share. The ex-dividend date is Friday, October 23rd. This represents a c) annualized dividend and a yield of 7.7%.

Institutional Investors Weigh In On Flaherty & Crumrine Total Return Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in shares of Flaherty & Crumrine Total Return Fund in the fourth quarter valued at about $57,000. Cetera Investment Advisers bought a new position in Flaherty & Crumrine Total Return Fund during the second quarter worth about $199,000. Kovack Advisors Inc. bought a new position in Flaherty & Crumrine Total Return Fund during the fourth quarter worth about $226,000. Seven Mile Advisory acquired a new stake in Flaherty & Crumrine Total Return Fund in the 3rd quarter worth about $230,000. Finally, Osaic Holdings Inc. raised its stake in Flaherty & Crumrine Total Return Fund by 3.8% in the 2nd quarter. Osaic Holdings Inc. now owns 17,196 shares of the company’s stock worth $292,000 after purchasing an additional 629 shares in the last quarter.

Flaherty & Crumrine Total Return Fund Company Profile

Flaherty & Crumrine Total Return Fund Inc (NYSE: FLC) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund principally invests in preferred and other hybrid securities issued by financial services companies, including banks, insurance firms and real estate investment trusts. Listed on the New York Stock Exchange, FLC employs a diversified portfolio approach to access the preferred securities market and generate an attractive income stream for shareholders.

The fund’s investment strategy emphasizes preferred stocks, with at least 65% of its managed assets directed toward these instruments.