Short Interest in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Expands By 66.2%

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 165,552 shares, a growth of 66.2% from the November 30th total of 99,602 shares. Based on an average trading volume of 126,700 shares, the days-to-cover ratio is currently 1.3 days. Based on an average trading volume of 126,700 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Gridiron Partners LLC grew its position 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 buying an additional 338,939 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 13.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 489,280 shares of the financial services provider’s stock worth $7,970,000 after acquiring an additional 57,473 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the 2nd quarter worth $58,000. Ceera Investments LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the second quarter valued at about $394,000. Finally, Thomas J. Herzfeld Advisors Inc. increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 8.6% during the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 386,181 shares of the financial services provider’s stock worth $6,291,000 after acquiring an additional 30,443 shares during the period.

Flaherty & Crumrine Preferred Securities Income Fund Trading Up 0.6%

Flaherty & Crumrine Preferred Securities Income Fund stock traded up $0.11 during midday trading on Tuesday, hitting $16.54. 127,559 shares of the company’s stock were exchanged, compared to its average volume of 116,092. Flaherty & Crumrine Preferred Securities Income Fund has a 12-month low of $14.20 and a 12-month high of $17.00. The firm’s 50 day simple moving average is $16.63 and its 200 day simple moving average is $16.50.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 23rd will be given a dividend of $0.1005 per share. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend is Friday, January 23rd.

Flaherty & Crumrine Preferred Securities Income Fund Company 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.