Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) Sees Large Drop in Short Interest

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totaling 6,900 shares, a drop of 35.5% from the May 31st total of 10,695 shares. Based on an average daily volume of 16,448 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in Flaherty & Crumrine Total Return Fund during the fourth quarter valued at about $57,000. Cetera Investment Advisers purchased a new position in shares of Flaherty & Crumrine Total Return Fund in the 2nd quarter worth about $199,000. Kovack Advisors Inc. purchased a new position in shares of Flaherty & Crumrine Total Return Fund in the 4th quarter worth about $226,000. Seven Mile Advisory bought a new position in shares of Flaherty & Crumrine Total Return Fund during the 3rd quarter valued at about $230,000. Finally, Osaic Holdings Inc. increased its position in shares of Flaherty & Crumrine Total Return Fund by 3.8% during the 2nd quarter. Osaic Holdings Inc. now owns 17,196 shares of the company’s stock valued at $292,000 after purchasing an additional 629 shares during the last quarter.

Flaherty & Crumrine Total Return Fund Stock Performance

Shares of Flaherty & Crumrine Total Return Fund stock opened at $16.95 on Friday. Flaherty & Crumrine Total Return Fund has a 1 year low of $15.89 and a 1 year high of $18.09. The company has a 50 day simple moving average of $16.88 and a two-hundred day simple moving average of $17.21.

Flaherty & Crumrine Total Return Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be given a dividend of $0.1047 per share. The ex-dividend date is Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 7.4%.

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.