Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Increases Dividend to $0.10 Per Share

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) declared a monthly dividend on Wednesday, July 22nd. Investors of record on Monday, August 24th will be paid a dividend of 0.1046 per share by the financial services provider on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Monday, August 24th. This is a 2.0% increase from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.10.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

FFC stock opened at $16.07 on Friday. The stock has a 50-day moving average price of $16.02 and a two-hundred day moving average price of $16.17. Flaherty & Crumrine Preferred Securities Income Fund has a 12-month low of $14.98 and a 12-month high of $17.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FFC. Whitener Capital Management Inc. increased its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 3.2% during the second quarter. Whitener Capital Management Inc. now owns 25,585 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 800 shares during the last quarter. Smith Asset Management Co. LLC grew its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 1.2% during the 4th quarter. Smith Asset Management Co. LLC now owns 73,885 shares of the financial services provider’s stock worth $1,220,000 after acquiring an additional 908 shares in the last quarter. Ceera Investments LLC lifted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 3.1% during the fourth quarter. Ceera Investments LLC now owns 32,240 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 960 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 61.5% in the fourth quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,060 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 9.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,351 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 1,356 shares in the last quarter.

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.