Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Shares Shorted: Short Interest Down 99.1% in October

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 654 shares, a drop of 99.1% from the September 30th total of 76,195 shares. Based on an average daily trading volume, of 276,270 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

A number of hedge funds have recently added to or reduced their stakes in FFC. Hennion & Walsh Asset Management Inc. grew its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 11.2% in 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 acquiring an additional 47,574 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 1.7% during the third quarter. Park Avenue Securities LLC now owns 81,285 shares of the financial services provider’s stock worth $1,214,000 after buying an additional 1,368 shares in the last quarter. Smith Asset Management Co. LLC increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 1.2% during the third quarter. Smith Asset Management Co. LLC now owns 75,792 shares of the financial services provider’s stock worth $1,132,000 after buying an additional 876 shares during the period. Noble Wealth Management PBC increased its stake 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 period. Finally, Calamos Advisors LLC increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 13.5% during the first quarter. Calamos Advisors LLC now owns 38,260 shares of the financial services provider’s stock worth $593,000 after buying an additional 4,555 shares during the period.

Flaherty & Crumrine Preferred Securities Income Fund Stock Up 1.3%

NYSE FFC opened at $14.52 on Wednesday. The stock has a 50-day moving average of $15.26 and a two-hundred day moving average of $15.93. Flaherty & Crumrine Preferred Securities Income Fund has a 1-year low of $14.26 and a 1-year high of $16.95.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be paid a dividend of $0.1046 per share. This represents a $1.26 annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend is Friday, November 20th.

About Flaherty & Crumrine Preferred Securities Income Fund

Flaherty & Crumrine Preferred Securities Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FFC. The fund seeks to provide investors with a high level of current income and, to a lesser extent, capital appreciation by investing primarily in preferred securities and other income-producing securities.

The fund’s portfolio may include preferred stocks, hybrid securities, corporate bonds and other fixed-income instruments issued by companies in sectors such as financial services, utilities, real estate investment trusts and industrials.