Sit Investment Associates Inc. Has $8.27 Million Position in Flaherty & Crumrine Preferred Securities Income Fund Inc. $FFC

Sit Investment Associates Inc. trimmed its position in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,722 shares of the financial services provider’s stock after selling 87,196 shares during the quarter. Sit Investment Associates Inc.’s holdings in Flaherty & Crumrine Preferred Securities Income Fund were worth $8,267,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FFC. Smith Asset Management Co. LLC boosted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 1.2% in 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 acquiring an additional 908 shares during the period. Stolper Co boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 2.9% in the fourth quarter. Stolper Co now owns 33,250 shares of the financial services provider’s stock valued at $549,000 after buying an additional 930 shares during the period. Ceera Investments LLC boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 3.1% in the fourth quarter. Ceera Investments LLC now owns 32,240 shares of the financial services provider’s stock valued at $532,000 after buying an additional 960 shares during the period. Sound Income Strategies LLC grew its position in Flaherty & Crumrine Preferred Securities Income Fund by 61.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,060 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Flaherty & Crumrine Preferred Securities Income Fund by 9.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,351 shares of the financial services provider’s stock worth $270,000 after buying an additional 1,356 shares in the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Stock Down 0.2%

Shares of NYSE FFC opened at $15.95 on Friday. The business has a fifty day moving average price of $15.98 and a two-hundred day moving average price of $16.24. Flaherty & Crumrine Preferred Securities Income Fund Inc. has a fifty-two week low of $14.98 and a fifty-two week high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be issued a dividend of $0.1025 per share. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, July 24th.

Flaherty & Crumrine Preferred Securities Income Fund Profile

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.