Short Interest in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Drops By 39.7%

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 104,472 shares, a drop of 39.7% from the August 15th total of 173,180 shares. Based on an average daily trading volume, of 119,729 shares, the days-to-cover ratio is presently 0.9 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Up 1.0%

NYSE FFC traded up $0.15 on Wednesday, hitting $15.49. 72,661 shares of the company were exchanged, compared to its average volume of 110,879. Flaherty & Crumrine Preferred Securities Income Fund has a 1-year low of $14.98 and a 1-year high of $17.00. The firm has a 50 day moving average of $16.04 and a two-hundred day moving average of $15.99.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be given a $0.1046 dividend. This represents a c) annualized dividend and a yield of 8.1%. The ex-dividend date is Friday, October 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bard Associates Inc. lifted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 42.7% in the fourth quarter. Bard Associates Inc. now owns 1,219,924 shares of the financial services provider’s stock worth $20,141,000 after purchasing an additional 365,085 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased 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 purchasing an additional 47,574 shares during the period. Csenge Advisory Group boosted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 0.8% in the fourth quarter. Csenge Advisory Group now owns 320,310 shares of the financial services provider’s stock valued at $5,288,000 after acquiring an additional 2,593 shares during the period. Fiera Capital Corp grew its position in Flaherty & Crumrine Preferred Securities Income Fund by 72.3% during the fourth quarter. Fiera Capital Corp now owns 170,617 shares of the financial services provider’s stock worth $2,817,000 after buying an additional 71,584 shares in the last quarter. Finally, Smith Asset Management Co. LLC increased its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 1.2% in the 4th quarter. Smith Asset Management Co. LLC now owns 73,885 shares of the financial services provider’s stock valued at $1,220,000 after buying an additional 908 shares during the period.

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.