Short Interest in Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) Grows By 57.6%

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 10,695 shares, a growth of 57.6% from the May 14th total of 6,787 shares. Based on an average daily volume of 23,611 shares, the days-to-cover ratio is currently 0.5 days.

Flaherty & Crumrine Total Return Fund Stock Performance

FLC opened at $16.79 on Thursday. The stock’s fifty day moving average is $16.94 and its two-hundred day moving average is $17.26. Flaherty & Crumrine Total Return Fund has a 52 week low of $15.89 and a 52 week high of $18.09.

Flaherty & Crumrine Total Return Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be issued a dividend of $0.1047 per share. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date is Friday, July 24th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in Flaherty & Crumrine Total Return Fund during the 4th quarter worth $57,000. Cetera Investment Advisers bought a new stake in Flaherty & Crumrine Total Return Fund during the 2nd quarter valued at $199,000. Seven Mile Advisory bought a new stake in Flaherty & Crumrine Total Return Fund during the 3rd quarter valued at $230,000. Kovack Advisors Inc. bought a new stake in Flaherty & Crumrine Total Return Fund during the 4th quarter valued at $227,000. Finally, Wedbush Securities Inc. boosted its position in Flaherty & Crumrine Total Return Fund by 50.5% during the 3rd quarter. Wedbush Securities Inc. now owns 15,050 shares of the company’s stock valued at $268,000 after acquiring an additional 5,050 shares in the last quarter.

About Flaherty & Crumrine Total Return Fund

Flaherty & Crumrine Total Return Fund Inc (NYSE: FLC) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund principally invests in preferred and other hybrid securities issued by financial services companies, including banks, insurance firms and real estate investment trusts. Listed on the New York Stock Exchange, FLC employs a diversified portfolio approach to access the preferred securities market and generate an attractive income stream for shareholders.

The fund’s investment strategy emphasizes preferred stocks, with at least 65% of its managed assets directed toward these instruments.