Short Interest in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Drops By 39.7%

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 104,472 shares, a drop of 39.7% from the August 15th total of 173,180 shares. Based on an average daily trading volume, of 119,729 shares, the short-interest ratio is presently 0.9 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

NYSE:FFC traded up $0.15 on Wednesday, reaching $15.49. 72,661 shares of the stock traded hands, compared to its average volume of 110,879. Flaherty & Crumrine Preferred Securities Income Fund has a 1-year low of $14.98 and a 1-year high of $17.00. The company’s 50 day moving average is $16.04 and its 200-day moving average is $15.99.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be given a $0.1046 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a c) annualized dividend and a yield of 8.1%.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Large investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the 2nd quarter worth about $47,000. Fifth Third Bancorp bought a new position in Flaherty & Crumrine Preferred Securities Income Fund in the 1st quarter valued at approximately $118,000. Kestra Advisory Services LLC lifted its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 100.6% during the first quarter. Kestra Advisory Services LLC now owns 15,953 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 8,002 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 19.6% during the 1st quarter. International Assets Investment Management LLC now owns 17,433 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 2,855 shares during the last quarter. Finally, Maridea Wealth Management LLC bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the 1st quarter worth approximately $279,000.

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.