Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Short Interest Up 137.8% in June

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 102,391 shares, an increase of 137.8% from the June 15th total of 43,066 shares. Based on an average daily trading volume, of 115,158 shares, the short-interest ratio is presently 0.9 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

FFC stock traded up $0.06 on Tuesday, reaching $16.26. The company’s stock had a trading volume of 11,298 shares, compared to its average volume of 115,350. Flaherty & Crumrine Preferred Securities Income Fund has a 52 week low of $14.98 and a 52 week high of $17.00. The firm has a fifty day moving average of $16.00 and a two-hundred day moving average of $16.19.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be issued a dividend of $0.1025 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, July 24th.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

Hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC lifted its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 61.5% in the fourth quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,060 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the second quarter worth about $47,000. Larson Financial Group LLC bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the third quarter worth about $93,000. Fifth Third Bancorp acquired a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the 1st quarter valued at about $118,000. Finally, Advisory Services Network LLC acquired a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the 3rd quarter valued at about $120,000.

About Flaherty & Crumrine Preferred Securities Income Fund

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.