Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) to Issue Monthly Dividend of $0.10

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) announced a monthly dividend on Wednesday, July 22nd. Shareholders of record on Friday, October 23rd will be given a dividend of 0.1046 per share by the financial services provider on Friday, October 30th. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Friday, October 23rd.

Flaherty & Crumrine Preferred Securities Income Fund Stock Down 1.1%

Shares of FFC stock opened at $16.07 on Friday. The business has a 50-day moving average price of $16.02 and a two-hundred day moving average price of $16.17. Flaherty & Crumrine Preferred Securities Income Fund has a 12-month low of $14.98 and a 12-month high of $17.00.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in FFC. Whitener Capital Management Inc. lifted its position in Flaherty & Crumrine Preferred Securities Income Fund by 3.2% during the 2nd quarter. Whitener Capital Management Inc. now owns 25,585 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 800 shares during the period. Hennion & Walsh Asset Management Inc. raised 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 purchasing an additional 47,574 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the 2nd quarter valued at $47,000. Noble Wealth Management PBC grew its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 77.8% during the 2nd quarter. Noble Wealth Management PBC now owns 72,317 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 31,655 shares during the period. Finally, Readystate Asset Management LP bought a new position in Flaherty & Crumrine Preferred Securities Income Fund in the first quarter worth approximately $458,000.

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.