Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

by · The Cerbat Gem

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC – Get Free Report)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.91 and traded as high as $16.13. Flaherty & Crumrine Preferred Securities Income Fund shares last traded at $16.08, with a volume of 101,118 shares.

Flaherty & Crumrine Preferred Securities Income Fund Stock Down 1.4%

The business’s fifty day simple moving average is $15.89 and its 200 day simple moving average is $16.37.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The business also recently declared 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) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date is Friday, July 24th.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

A number of large investors have recently bought and sold shares of the stock. Calamos Advisors LLC grew its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 13.5% in the first quarter. Calamos Advisors LLC now owns 38,260 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 4,555 shares during the period. International Assets Investment Management LLC grew its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 19.6% in the first quarter. International Assets Investment Management LLC now owns 17,433 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 2,855 shares during the period. Fifth Third Bancorp acquired a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund during the first quarter valued at about $118,000. Kestra Advisory Services LLC grew its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 100.6% during the first quarter. Kestra Advisory Services LLC now owns 15,953 shares of the financial services provider’s stock valued at $247,000 after buying an additional 8,002 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 64.4% during the first quarter. Janney Montgomery Scott LLC now owns 26,888 shares of the financial services provider’s stock valued at $417,000 after buying an additional 10,537 shares during the last quarter.

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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