Sit Investment Associates Inc. Sells 87,196 Shares of Flaherty & Crumrine Preferred Securities Income Fund Inc. $FFC

Sit Investment Associates Inc. cut its holdings in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 500,722 shares of the financial services provider’s stock after selling 87,196 shares during the quarter. Sit Investment Associates Inc.’s holdings in Flaherty & Crumrine Preferred Securities Income Fund were worth $8,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fiera Capital Corp acquired a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund during the third quarter worth $1,673,000. Bard Associates Inc. boosted its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 91.8% during the 3rd quarter. Bard Associates Inc. now owns 854,839 shares of the financial services provider’s stock valued at $14,438,000 after acquiring an additional 409,199 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Flaherty & Crumrine Preferred Securities Income Fund by 6.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 519,977 shares of the financial services provider’s stock worth $8,782,000 after acquiring an additional 30,697 shares during the last quarter. First Heartland Consultants Inc. grew its position in Flaherty & Crumrine Preferred Securities Income Fund by 33.0% during the 3rd quarter. First Heartland Consultants Inc. now owns 15,452 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 3,832 shares during the last quarter. Finally, Everstar Asset Management LLC increased its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 5.4% in the 4th quarter. Everstar Asset Management LLC now owns 50,473 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 2,573 shares in the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.2%

Flaherty & Crumrine Preferred Securities Income Fund stock opened at $15.95 on Friday. The stock has a 50-day moving average price of $15.98 and a two-hundred day moving average price of $16.24. Flaherty & Crumrine Preferred Securities Income Fund Inc. has a 12 month low of $14.98 and a 12 month high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors 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 7.7%. The ex-dividend date is Friday, July 24th.

Flaherty & Crumrine Preferred Securities Income Fund 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.