Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFCGet Free Report)’s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $16.06 and traded as high as $16.23. Flaherty & Crumrine Preferred Securities Income Fund shares last traded at $16.1030, with a volume of 114,617 shares changing hands.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

The company has a 50-day simple moving average of $16.06 and a 200 day simple moving average of $16.15.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The company 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 $0.1046 dividend. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date is Friday, October 23rd.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bard Associates Inc. boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 42.7% during the 4th quarter. Bard Associates Inc. now owns 1,219,924 shares of the financial services provider’s stock worth $20,141,000 after acquiring an additional 365,085 shares in the last quarter. Stifel Financial Corp grew its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 85.0% during the 4th quarter. Stifel Financial Corp now owns 258,846 shares of the financial services provider’s stock valued at $4,274,000 after acquiring an additional 118,912 shares during the period. Beacon Pointe Advisors LLC purchased a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund in the 4th quarter valued at about $1,801,000. Invesco Ltd. increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 12.1% in the 2nd quarter. Invesco Ltd. now owns 763,056 shares of the financial services provider’s stock valued at $12,430,000 after purchasing an additional 82,477 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 72.3% in the 4th quarter. Fiera Capital Corp now owns 170,617 shares of the financial services provider’s stock worth $2,817,000 after purchasing an additional 71,584 shares during the period.

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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