Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Sees Significant Increase in Short Interest

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totaling 187,502 shares, a growth of 83.9% from the July 15th total of 101,971 shares. Based on an average daily trading volume, of 92,658 shares, the days-to-cover ratio is presently 2.0 days.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

Shares of FFC traded down $0.02 during mid-day trading on Monday, hitting $16.20. The stock had a trading volume of 184,743 shares, compared to its average volume of 111,219. The company’s fifty day simple moving average is $16.11 and its two-hundred day simple moving average is $16.12. Flaherty & Crumrine Preferred Securities Income Fund has a fifty-two week low of $14.98 and a fifty-two week high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be paid a dividend of $0.1046 per share. The ex-dividend date is Friday, October 23rd. This represents a c) annualized dividend and a yield of 7.7%.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Bard Associates Inc. lifted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 42.7% in the 4th quarter. Bard Associates Inc. now owns 1,219,924 shares of the financial services provider’s stock worth $20,141,000 after buying an additional 365,085 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 1.1% during the 4th quarter. Wells Fargo & Company MN now owns 946,149 shares of the financial services provider’s stock valued at $15,621,000 after buying an additional 10,561 shares during the last quarter. Invesco Ltd. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 12.1% during the second quarter. Invesco Ltd. now owns 763,056 shares of the financial services provider’s stock worth $12,430,000 after acquiring an additional 82,477 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 11.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 472,352 shares of the financial services provider’s stock worth $7,690,000 after acquiring an additional 47,574 shares during the period. Finally, Csenge Advisory Group raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 0.8% during the fourth quarter. Csenge Advisory Group now owns 320,310 shares of the financial services provider’s stock worth $5,288,000 after acquiring an additional 2,593 shares during the period.

Flaherty & Crumrine Preferred Securities Income Fund Company 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.