Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Short Interest Up 137.8% in June

by · The Cerbat Gem

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC – Get Free Report) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 102,391 shares, a growth of 137.8% from the June 15th total of 43,066 shares. Based on an average daily volume of 115,158 shares, the days-to-cover ratio is currently 0.9 days.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 61.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,060 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund during the second quarter worth $47,000. Larson Financial Group LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund during the third quarter worth $93,000. Fifth Third Bancorp acquired a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund during the first quarter worth $118,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund during the third quarter valued at $120,000.

Flaherty & Crumrine Preferred Securities Income Fund Stock Up 0.4%

FFC stock traded up $0.06 on Tuesday, hitting $16.26. 11,298 shares of the company’s stock traded hands, compared to its average volume of 115,350. Flaherty & Crumrine Preferred Securities Income Fund has a 1-year low of $14.98 and a 1-year high of $17.00. The stock has a fifty day moving average of $16.00 and a 200-day moving average of $16.19.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

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. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 7.6%.

About Flaherty & Crumrine Preferred Securities Income Fund

(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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