Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Sees Large Growth in Short Interest

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 25,785 shares, a growth of 21.3% from the February 26th total of 21,249 shares. Based on an average daily volume of 167,612 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Capital Management Inc. raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 3.2% during the third quarter. Integrated Capital Management Inc. now owns 19,178 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 596 shares in the last quarter. Smith Asset Management Co. LLC increased its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 1.2% during the 4th quarter. Smith Asset Management Co. LLC now owns 73,885 shares of the financial services provider’s stock valued at $1,220,000 after purchasing an additional 908 shares during the last quarter. Stolper Co increased its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 2.9% during the 4th quarter. Stolper Co now owns 33,250 shares of the financial services provider’s stock valued at $549,000 after purchasing an additional 930 shares during the last quarter. Ceera Investments LLC raised its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 3.1% during 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 in the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 61.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,060 shares in the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

FFC stock opened at $15.63 on Thursday. Flaherty & Crumrine Preferred Securities Income Fund has a one year low of $14.20 and a one year high of $17.00. The firm has a 50 day simple moving average of $16.30 and a two-hundred day simple moving average of $16.53.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 23rd will be issued a dividend of $0.1005 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Thursday, April 23rd.

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.