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

by · The Cerbat Gem

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC – Get Free Report) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 39,651 shares, an increase of 92.8% from the April 15th total of 20,569 shares. Based on an average trading volume of 111,487 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bard Associates Inc. lifted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 42.7% in the fourth quarter. Bard Associates Inc. now owns 1,219,924 shares of the financial services provider’s stock valued at $20,141,000 after acquiring an additional 365,085 shares during the last quarter. Wells Fargo & Company MN raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 1.1% in the fourth quarter. Wells Fargo & Company MN now owns 946,149 shares of the financial services provider’s stock valued at $15,621,000 after purchasing an additional 10,561 shares during the period. Invesco Ltd. raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 12.1% in the second quarter. Invesco Ltd. now owns 763,056 shares of the financial services provider’s stock valued at $12,430,000 after purchasing an additional 82,477 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 6.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 519,977 shares of the financial services provider’s stock valued at $8,782,000 after purchasing an additional 30,697 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 8.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 369,316 shares of the financial services provider’s stock valued at $6,097,000 after purchasing an additional 30,032 shares during the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 1.4%

Shares of FFC traded down $0.22 during mid-day trading on Friday, reaching $15.81. The stock had a trading volume of 148,343 shares, compared to its average volume of 113,252. Flaherty & Crumrine Preferred Securities Income Fund has a 52-week low of $14.98 and a 52-week high of $17.00. The business’s fifty day moving average is $15.89 and its 200 day moving average is $16.37.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be issued a $0.1025 dividend. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date is Friday, July 24th.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

(Get Free Report)

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.

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