Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Sees Large Increase in Short Interest

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 89,800 shares, a growth of 209.7% from the February 29th total of 29,000 shares. Based on an average daily trading volume, of 166,300 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FFC. Mangrove Partners bought a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund in the second quarter worth $6,994,000. Cerity Partners LLC bought a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter worth $5,250,000. RPO LLC bought a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund in the third quarter worth $4,177,000. AQR Arbitrage LLC acquired a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the third quarter valued at about $3,486,000. Finally, MGO One Seven LLC boosted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 843.3% in the fourth quarter. MGO One Seven LLC now owns 206,261 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 184,394 shares in the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Stock Up 0.7 %

FFC stock traded up $0.11 during trading hours on Thursday, hitting $14.84. 82,436 shares of the stock were exchanged, compared to its average volume of 163,368. The company has a 50-day simple moving average of $14.46 and a two-hundred day simple moving average of $13.70. Flaherty & Crumrine Preferred Securities Income Fund has a 12 month low of $11.90 and a 12 month high of $14.96.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 23rd will be given a $0.0838 dividend. This represents a $1.01 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend is Monday, April 22nd.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

Flaherty & Crumrine Preferred Securities Income Fund Inc is a closed-ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.