1607 Capital Partners LLC Has $5.62 Million Stake in Flaherty & Crumrine Preferred Securities Income Fund Inc. $FFC

1607 Capital Partners LLC trimmed its position in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,251 shares of the financial services provider’s stock after selling 35,099 shares during the quarter. 1607 Capital Partners LLC’s holdings in Flaherty & Crumrine Preferred Securities Income Fund were worth $5,618,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Fiera Capital Corp acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund during the third quarter worth $1,673,000. Bard Associates Inc. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 91.8% during the third quarter. Bard Associates Inc. now owns 854,839 shares of the financial services provider’s stock worth $14,438,000 after acquiring an additional 409,199 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 6.3% during the third quarter. Envestnet Asset Management Inc. now owns 519,977 shares of the financial services provider’s stock worth $8,782,000 after acquiring an additional 30,697 shares in the last quarter. First Heartland Consultants Inc. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 33.0% during the third quarter. First Heartland Consultants Inc. now owns 15,452 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 3,832 shares in the last quarter. Finally, Everstar Asset Management LLC raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 5.4% during the fourth quarter. Everstar Asset Management LLC now owns 50,473 shares of the financial services provider’s stock worth $813,000 after acquiring an additional 2,573 shares in the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.3%

Flaherty & Crumrine Preferred Securities Income Fund stock opened at $15.97 on Thursday. The stock has a fifty day moving average price of $15.98 and a two-hundred day moving average price of $16.25. Flaherty & Crumrine Preferred Securities Income Fund Inc. has a 52-week low of $14.98 and a 52-week high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

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

Flaherty & Crumrine Preferred Securities Income Fund 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.