Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) to Issue Dividend Increase – $0.09 Per Share

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) declared a monthly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Friday, June 21st will be paid a dividend of 0.088 per share by the financial services provider on Friday, June 28th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date of this dividend is Friday, June 21st. This is a positive change from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.08.

Flaherty & Crumrine Preferred Securities Income Fund has decreased its dividend payment by an average of 3.6% per year over the last three years.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.1 %

Shares of NYSE:FFC traded down $0.02 during midday trading on Friday, reaching $13.95. 100,138 shares of the company’s stock traded hands, compared to its average volume of 154,221. Flaherty & Crumrine Preferred Securities Income Fund has a 1 year low of $11.90 and a 1 year high of $14.96. The company has a fifty day simple moving average of $14.49 and a two-hundred day simple moving average of $13.84.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FFC. ICA Group Wealth Management LLC acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund in the 4th quarter valued at $39,000. FMR LLC acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund in the 3rd quarter valued at $39,000. Comerica Bank acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund in the 3rd quarter valued at $43,000. Harbour Investments Inc. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 2,531.6% in the 4th quarter. Harbour Investments Inc. now owns 4,158 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund in the 2nd quarter valued at $115,000.

About Flaherty & Crumrine Preferred Securities Income Fund

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.