Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Short Interest Up 8.1% in November

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 20,100 shares, a growth of 8.1% from the October 31st total of 18,600 shares. Based on an average daily trading volume, of 133,900 shares, the short-interest ratio is presently 0.2 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

FFC stock traded down $0.01 during mid-day trading on Wednesday, hitting $15.94. The company had a trading volume of 51,113 shares, compared to its average volume of 137,021. The stock’s fifty day moving average price is $16.06 and its two-hundred day moving average price is $15.44. Flaherty & Crumrine Preferred Securities Income Fund has a 12 month low of $13.51 and a 12 month high of $16.74.

Flaherty & Crumrine Preferred Securities Income Fund Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 21st were issued a $0.092 dividend. This represents a $1.10 annualized dividend and a yield of 6.93%. This is an increase from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.09. The ex-dividend date of this dividend was Thursday, November 21st.

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

A number of institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 10.8% in the third quarter. US Bancorp DE now owns 15,406 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 1,500 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 20.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 169,978 shares of the financial services provider’s stock worth $2,514,000 after purchasing an additional 28,492 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 23.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 89,631 shares of the financial services provider’s stock worth $1,326,000 after purchasing an additional 17,178 shares during the last quarter. Comerica Bank increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 42.8% in the first quarter. Comerica Bank now owns 5,292 shares of the financial services provider’s stock worth $79,000 after buying an additional 1,585 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund during the first quarter worth about $2,046,000.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

Flaherty & Crumrine Preferred Securities Income Fund Inc is a closed-ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.