Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) to Issue Monthly Dividend of $0.10

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) announced a monthly dividend on Thursday, April 16th. Shareholders of record on Thursday, May 21st will be paid a dividend of 0.1025 per share by the financial services provider on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Thursday, May 21st. This is a 2.0% increase from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.10.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

Shares of FFC opened at $16.06 on Friday. The business has a 50-day simple moving average of $16.12 and a two-hundred day simple moving average of $16.46. Flaherty & Crumrine Preferred Securities Income Fund has a 52 week low of $14.77 and a 52 week high of $17.00.

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

A number of hedge funds have recently made changes to their positions in FFC. Bard Associates Inc. lifted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 91.8% in the third quarter. Bard Associates Inc. now owns 854,839 shares of the financial services provider’s stock worth $14,438,000 after buying an additional 409,199 shares in the last quarter. Gridiron Partners LLC lifted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 229.1% in the third quarter. Gridiron Partners LLC now owns 486,870 shares of the financial services provider’s stock worth $82,000 after buying an additional 338,939 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 85.0% in the fourth quarter. Stifel Financial Corp now owns 258,846 shares of the financial services provider’s stock worth $4,274,000 after buying an additional 118,912 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter worth about $1,801,000. Finally, Fiera Capital Corp purchased a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the third quarter worth about $1,673,000.

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.