Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Sees Significant Growth in Short Interest

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the recipient of a significant increase in short interest in January. As of January 30th, there was short interest totaling 62,222 shares, an increase of 92.2% from the January 15th total of 32,368 shares. Based on an average daily volume of 99,168 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 99,168 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of FFC. Ameritas Advisory Services LLC acquired a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund during the second quarter worth approximately $27,000. Sound Income Strategies LLC increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 61.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,060 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund during the fourth quarter worth $67,000. Mather Group LLC. acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund during the third quarter worth $79,000. Finally, Gridiron Partners LLC lifted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 229.1% in the third quarter. Gridiron Partners LLC now owns 486,870 shares of the financial services provider’s stock valued at $82,000 after buying an additional 338,939 shares in the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

Shares of NYSE FFC traded up $0.06 during trading on Friday, hitting $16.90. 61,665 shares of the company traded hands, compared to its average volume of 98,476. The business’s fifty day moving average is $16.62 and its 200 day moving average is $16.58. Flaherty & Crumrine Preferred Securities Income Fund has a fifty-two week low of $14.20 and a fifty-two week high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 23rd will be paid a dividend of $0.1005 per share. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Thursday, April 23rd.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

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.