Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) Shares Pass Below 200 Day Moving Average – Should You Sell?

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.30 and traded as low as $15.83. Flaherty & Crumrine Preferred Securities Income Fund shares last traded at $15.9140, with a volume of 166,736 shares changing hands.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

The company has a 50 day moving average of $15.88 and a 200 day moving average of $16.30.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be paid a $0.1025 dividend. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date is Friday, July 24th.

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

Several institutional investors have recently added to or reduced their stakes in the business. Smith Asset Management Co. LLC increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 1.2% in the fourth 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 stake in Flaherty & Crumrine Preferred Securities Income Fund by 2.9% in the fourth 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 increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 3.1% in the fourth quarter. Ceera Investments LLC now owns 32,240 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 960 shares during the last quarter. Sound Income Strategies LLC increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 61.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,060 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 9.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,351 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 1,356 shares during the last quarter.

About Flaherty & Crumrine Preferred Securities Income Fund

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.