Short Interest in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Drops By 39.7%

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFCGet Free Report) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 104,472 shares, a drop of 39.7% from the August 15th total of 173,180 shares. Based on an average daily trading volume, of 119,729 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Bard Associates Inc. lifted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 42.7% in the fourth quarter. Bard Associates Inc. now owns 1,219,924 shares of the financial services provider’s stock valued at $20,141,000 after buying an additional 365,085 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 72.3% during the 4th quarter. Fiera Capital Corp now owns 170,617 shares of the financial services provider’s stock worth $2,817,000 after acquiring an additional 71,584 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 11.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 472,352 shares of the financial services provider’s stock valued at $7,690,000 after acquiring an additional 47,574 shares during the period. Noble Wealth Management PBC raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 77.8% in the 2nd quarter. Noble Wealth Management PBC now owns 72,317 shares of the financial services provider’s stock valued at $1,177,000 after acquiring an additional 31,655 shares during the period. Finally, Readystate Asset Management LP acquired a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the 1st quarter valued at $458,000.

Flaherty & Crumrine Preferred Securities Income Fund Stock Down 0.7%

NYSE:FFC traded down $0.12 on Friday, reaching $15.46. The company’s stock had a trading volume of 68,814 shares, compared to its average volume of 111,107. Flaherty & Crumrine Preferred Securities Income Fund has a 1-year low of $14.98 and a 1-year high of $17.00. The business’s 50-day moving average price is $16.01 and its two-hundred day moving average price is $15.97.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be paid a dividend of $0.1046 per share. This represents a c) dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend is Friday, October 23rd.

About Flaherty & Crumrine Preferred Securities Income Fund

(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.

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