Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $16.23 and traded as low as $15.58. Flaherty & Crumrine Preferred Securities Income Fund shares last traded at $15.69, with a volume of 91,124 shares.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.3%

The firm’s fifty day simple moving average is $16.23 and its two-hundred day simple moving average is $16.50.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be issued a dividend of $0.1005 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a c) annualized dividend and a yield of 7.7%.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

Several large investors have recently added to or reduced their stakes in the company. Smith Asset Management Co. LLC lifted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 1.2% during the fourth quarter. Smith Asset Management Co. LLC now owns 73,885 shares of the financial services provider’s stock valued at $1,220,000 after purchasing an additional 908 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund during the fourth quarter valued at approximately $1,801,000. NewEdge Advisors LLC lifted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 19.0% during the fourth quarter. NewEdge Advisors LLC now owns 19,347 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 3,092 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 1.2% during the fourth quarter. Cetera Investment Advisers now owns 120,867 shares of the financial services provider’s stock valued at $1,995,000 after purchasing an additional 1,376 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 8.3% during the fourth quarter. Osaic Holdings Inc. now owns 133,983 shares of the financial services provider’s stock valued at $2,212,000 after purchasing an additional 10,248 shares in the last quarter.

About Flaherty & Crumrine Preferred Securities Income Fund

Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) is a closed-end management investment company that seeks to provide investors with high current income as its primary investment objective. Launched in 1995, the fund pursues this goal by investing primarily in preferred securities, including U.S. and non-U.S. preferred stocks, trust preferred securities, and certain convertible and hybrid instruments. The fund’s diversified portfolio typically spans corporate, financial and utility sectors, with a focus on instruments that offer attractive dividend yields.

In constructing its portfolio, FFC may employ leverage to enhance income generation and diversify across credit qualities and maturities.