Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Shares Shorted: Short Interest Up 5,427.4% in October

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) saw a large increase in short interest during the month of October. As of October 30th, there was short interest totaling 36,149 shares, an increase of 5,427.4% from the October 15th total of 654 shares. Based on an average daily trading volume, of 203,240 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

A number of institutional investors have recently made changes to their positions in FFC. International Assets Investment Management LLC increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 10,936.1% in the third quarter. International Assets Investment Management LLC now owns 1,954,158 shares of the financial services provider’s stock worth $29,195,000 after buying an additional 1,936,451 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 11.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 472,352 shares of the financial services provider’s stock valued at $7,690,000 after acquiring an additional 47,574 shares in the last quarter. Noble Wealth Management PBC boosted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 77.8% during the 2nd quarter. Noble Wealth Management PBC now owns 72,317 shares of the financial services provider’s stock valued at $1,177,000 after acquiring an additional 31,655 shares during the last quarter. Readystate Asset Management LP bought a new position in Flaherty & Crumrine Preferred Securities Income Fund during the 1st quarter valued at $458,000. Finally, Wedbush Securities Inc. acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund during the 3rd quarter worth $317,000.

Flaherty & Crumrine Preferred Securities Income Fund Stock Down 1.1%

Shares of Flaherty & Crumrine Preferred Securities Income Fund stock traded down $0.17 during trading hours on Tuesday, hitting $15.10. 179,069 shares of the company’s stock traded hands, compared to its average volume of 131,396. Flaherty & Crumrine Preferred Securities Income Fund has a twelve month low of $14.26 and a twelve month high of $16.95. The stock has a 50 day simple moving average of $15.02 and a 200-day simple moving average of $15.85.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The firm also recently disclosed 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. This represents a $1.26 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date is Friday, November 20th.

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.