Short Interest in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Increases By 83.9%

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 187,502 shares, a growth of 83.9% from the July 15th total of 101,971 shares. Based on an average daily volume of 92,658 shares, the days-to-cover ratio is currently 2.0 days.

Flaherty & Crumrine Preferred Securities Income Fund Trading Up 0.1%

Flaherty & Crumrine Preferred Securities Income Fund stock traded up $0.01 during trading on Friday, hitting $16.22. 78,834 shares of the company were exchanged, compared to its average volume of 110,745. The business’s 50 day moving average is $16.11 and its 200 day moving average is $16.13. Flaherty & Crumrine Preferred Securities Income Fund has a 52 week low of $14.98 and a 52 week high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be issued a dividend of $0.1046 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Friday, October 23rd.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. Whitener Capital Management Inc. lifted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 3.2% during the second quarter. Whitener Capital Management Inc. now owns 25,585 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 800 shares in the last quarter. Smith Asset Management Co. LLC grew its position in Flaherty & Crumrine Preferred Securities Income Fund by 1.2% in the 4th quarter. Smith Asset Management Co. LLC now owns 73,885 shares of the financial services provider’s stock worth $1,220,000 after purchasing an additional 908 shares in the last quarter. Ceera Investments LLC increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 3.1% in the 4th quarter. Ceera Investments LLC now owns 32,240 shares of the financial services provider’s stock valued at $532,000 after buying an additional 960 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 9.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,351 shares of the financial services provider’s stock valued at $270,000 after buying an additional 1,356 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 1.2% in the 4th quarter. Cetera Investment Advisers now owns 120,867 shares of the financial services provider’s stock valued at $1,995,000 after buying an additional 1,376 shares during the last quarter.

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.