Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $16.63 and traded as high as $16.89. Flaherty & Crumrine Preferred Securities Income Fund shares last traded at $16.8040, with a volume of 96,634 shares.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

The firm’s 50 day simple moving average is $16.63 and its 200 day simple moving average is $16.18.

Flaherty & Crumrine Preferred Securities Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 20th will be paid a dividend of $0.0977 per share. This represents a c) annualized dividend and a dividend yield of 7.0%. This is a boost from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Thursday, November 20th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 11.3% during the first quarter. Janney Montgomery Scott LLC now owns 17,631 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 1,790 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 19.6% during the first quarter. Envestnet Asset Management Inc. now owns 431,807 shares of the financial services provider’s stock worth $6,879,000 after acquiring an additional 70,716 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund during the second quarter worth approximately $58,000. Whitener Capital Management Inc. raised its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 8.9% during the second quarter. Whitener Capital Management Inc. now owns 23,785 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 1,945 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund in the second quarter worth $478,000.

About Flaherty & Crumrine Preferred Securities Income Fund

Flaherty & Crumrine Preferred Securities Income Fund Inc is a closed-ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.