Flaherty & Crumrine Total Return Fund (NYSE:FLC) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $16.89 and traded as low as $16.88. Flaherty & Crumrine Total Return Fund shares last traded at $16.95, with a volume of 19,379 shares trading hands.

Flaherty & Crumrine Total Return Fund Price Performance

The business’s 50 day moving average price is $16.88 and its 200-day moving average price is $17.21.

Flaherty & Crumrine Total Return Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be given a $0.1047 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) dividend on an annualized basis and a yield of 7.4%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FLC. Sit Investment Associates Inc. lifted its holdings in Flaherty & Crumrine Total Return Fund by 6.9% during the 4th quarter. Sit Investment Associates Inc. now owns 1,039,130 shares of the company’s stock worth $18,185,000 after buying an additional 66,761 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Flaherty & Crumrine Total Return Fund by 57.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 158,784 shares of the company’s stock worth $2,779,000 after acquiring an additional 57,626 shares in the last quarter. Closed End Fund Advisors Inc. purchased a new stake in shares of Flaherty & Crumrine Total Return Fund during the fourth quarter worth $789,000. Fiera Capital Corp increased its position in shares of Flaherty & Crumrine Total Return Fund by 114.4% during the fourth quarter. Fiera Capital Corp now owns 70,401 shares of the company’s stock worth $1,232,000 after acquiring an additional 37,558 shares during the period. Finally, Guggenheim Capital LLC increased its position in shares of Flaherty & Crumrine Total Return Fund by 71.6% during the fourth quarter. Guggenheim Capital LLC now owns 71,714 shares of the company’s stock worth $1,255,000 after acquiring an additional 29,927 shares during the period.

About Flaherty & Crumrine Total Return Fund

Flaherty & Crumrine Total Return Fund Inc (NYSE: FLC) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund principally invests in preferred and other hybrid securities issued by financial services companies, including banks, insurance firms and real estate investment trusts. Listed on the New York Stock Exchange, FLC employs a diversified portfolio approach to access the preferred securities market and generate an attractive income stream for shareholders.

The fund’s investment strategy emphasizes preferred stocks, with at least 65% of its managed assets directed toward these instruments.