Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC)’s share price crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $14.99 and traded as low as $14.82. Flaherty & Crumrine Preferred Securities Income Fund shares last traded at $14.85, with a volume of 243,813 shares.

Flaherty & Crumrine Preferred Securities Income Fund Stock Down 1.3%

The stock has a 50 day simple moving average of $14.99 and a two-hundred day simple moving average of $15.83.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a $0.1046 dividend. This represents a $1.26 annualized dividend and a dividend yield of 8.5%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 10,936.1% in the third quarter. International Assets Investment Management LLC now owns 1,954,158 shares of the financial services provider’s stock valued at $29,195,000 after purchasing an additional 1,936,451 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 11.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 472,352 shares of the financial services provider’s stock worth $7,690,000 after buying an additional 47,574 shares during the period. Noble Wealth Management PBC grew its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 77.8% during the second quarter. Noble Wealth Management PBC now owns 72,317 shares of the financial services provider’s stock worth $1,177,000 after buying an additional 31,655 shares during the last quarter. Readystate Asset Management LP purchased a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund during the first quarter worth about $458,000. Finally, Wedbush Securities Inc. acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund in the 3rd quarter valued at about $317,000.

About Flaherty & Crumrine Preferred Securities Income Fund

Flaherty & Crumrine Preferred Securities Income Fund, Inc. (NYSE:FFC) is a closed-end investment company that seeks to provide investors with a high level of current income, while pursuing capital appreciation as a secondary objective. The fund invests primarily in preferred securities and other income-producing securities. Its portfolio may include securities issued by companies in sectors such as financial services, utilities and telecommunications, with investments selected based on factors including credit quality, income potential and market conditions.