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

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFCGet Free Report) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 39,651 shares, a growth of 92.8% from the April 15th total of 20,569 shares. Based on an average trading volume of 111,487 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FFC. Sound Income Strategies LLC raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 61.5% in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter worth $67,000. Larson Financial Group LLC purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the third quarter worth $93,000. Fifth Third Bancorp purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the first quarter worth $118,000. Finally, Advisory Services Network LLC purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the third quarter worth $120,000.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.1%

NYSE:FFC opened at $15.77 on Tuesday. The stock has a fifty day moving average price of $15.88 and a two-hundred day moving average price of $16.37. Flaherty & Crumrine Preferred Securities Income Fund has a 1 year low of $14.98 and a 1 year high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be given a $0.1025 dividend. The ex-dividend date is Friday, July 24th. This represents a c) annualized dividend and a yield of 7.8%.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

(Get Free Report)

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.

Further Reading

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