Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Stock Short Interest Drops 99.1%

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC – Get Free Report) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 654 shares, a decline of 99.1% from the September 30th total of 76,195 shares. Based on an average daily volume of 276,270 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. grew its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 11.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 472,352 shares of the financial services provider’s stock worth $7,690,000 after acquiring an additional 47,574 shares during the last quarter. Noble Wealth Management PBC increased its position in Flaherty & Crumrine Preferred Securities Income Fund by 77.8% during the second quarter. Noble Wealth Management PBC now owns 72,317 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 31,655 shares during the period. Readystate Asset Management LP bought a new position in Flaherty & Crumrine Preferred Securities Income Fund during the first quarter worth $458,000. Kestra Advisory Services LLC raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 100.6% during the 1st quarter. Kestra Advisory Services LLC now owns 15,953 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 8,002 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund during the 1st quarter valued at $118,000.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

Shares of NYSE FFC traded down $0.03 during trading hours on Monday, hitting $14.34. 249,035 shares of the company’s stock were exchanged, compared to its average volume of 124,849. The company’s 50-day moving average price is $15.29 and its 200-day moving average price is $15.94. Flaherty & Crumrine Preferred Securities Income Fund has a 1-year low of $14.26 and a 1-year high of $16.95.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be given a $0.1046 dividend. This represents a $1.26 annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend is Friday, November 20th.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

(Get Free Report)

Flaherty & Crumrine Preferred Securities Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FFC. The fund seeks to provide investors with a high level of current income and, to a lesser extent, capital appreciation by investing primarily in preferred securities and other income-producing securities.

The fund’s portfolio may include preferred stocks, hybrid securities, corporate bonds and other fixed-income instruments issued by companies in sectors such as financial services, utilities, real estate investment trusts and industrials.

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