Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $16.23 and traded as low as $15.58. Flaherty & Crumrine Preferred Securities Income Fund shares last traded at $15.69, with a volume of 91,124 shares changing hands.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.3%

The firm’s fifty day simple moving average is $16.23 and its two-hundred day simple moving average is $16.50.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 23rd will be given a dividend of $0.1005 per share. The ex-dividend date is Thursday, April 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC increased its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 61.5% in the 4th quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,060 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the 4th quarter valued at $67,000. Mather Group LLC. bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the 3rd quarter valued at $79,000. Gridiron Partners LLC increased its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 229.1% in the 3rd quarter. Gridiron Partners LLC now owns 486,870 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 338,939 shares during the last quarter. Finally, Larson Financial Group LLC bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the 3rd quarter valued at $93,000.

About Flaherty & Crumrine Preferred Securities Income Fund

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.