Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC – Get Free Report) saw a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 36,149 shares, a growth of 5,427.4% from the October 15th total of 654 shares. Based on an average daily trading volume, of 203,240 shares, the days-to-cover ratio is currently 0.2 days.
Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund
A number of institutional investors and hedge funds have recently made changes to their positions in FFC. Elevated Capital Advisors LLC boosted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 2.0% in the third quarter. Elevated Capital Advisors LLC now owns 118,403 shares of the financial services provider’s stock valued at $1,769,000 after acquiring an additional 2,359 shares during the last quarter. Csenge Advisory Group increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 1.4% during the third quarter. Csenge Advisory Group now owns 326,498 shares of the financial services provider’s stock worth $4,878,000 after acquiring an additional 4,476 shares during the last quarter. M Holdings Securities Inc. acquired a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the third quarter worth about $178,000. Calamos Advisors LLC raised its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 6.7% in the 3rd quarter. Calamos Advisors LLC now owns 43,726 shares of the financial services provider’s stock worth $653,000 after purchasing an additional 2,733 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 10,936.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,954,158 shares of the financial services provider’s stock worth $29,195,000 after purchasing an additional 1,936,451 shares during the period.
Flaherty & Crumrine Preferred Securities Income Fund Trading Down 1.1%
Shares of FFC stock traded down $0.17 during trading hours on Tuesday, hitting $15.10. 179,069 shares of the company were exchanged, compared to its average volume of 131,396. The firm has a fifty day moving average of $15.02 and a 200 day moving average of $15.85. 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 business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.1046 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.26 dividend on an annualized basis and a yield of 8.3%.
About Flaherty & Crumrine Preferred Securities Income Fund
Flaherty & Crumrine Preferred Securities Income Fund, Inc. (NYSE:FFC) is a closed-end investment company that seeks to provide investors with a high level of current income, while pursuing capital appreciation as a secondary objective. The fund invests primarily in preferred securities and other income-producing securities. Its portfolio may include securities issued by companies in sectors such as financial services, utilities and telecommunications, with investments selected based on factors including credit quality, income potential and market conditions.
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