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

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 20,100 shares, an increase of 8.1% from the October 31st total of 18,600 shares. Based on an average daily volume of 133,900 shares, the short-interest ratio is presently 0.2 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

Shares of NYSE FFC traded down $0.01 during trading hours on Wednesday, reaching $15.94. 46,839 shares of the stock traded hands, compared to its average volume of 137,014. Flaherty & Crumrine Preferred Securities Income Fund has a 52-week low of $13.51 and a 52-week high of $16.74. The company’s 50-day simple moving average is $16.06 and its two-hundred day simple moving average is $15.44.

Flaherty & Crumrine Preferred Securities Income Fund Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 21st were issued a $0.092 dividend. This represents a $1.10 annualized dividend and a yield of 6.93%. This is an increase from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.09. The ex-dividend date was Thursday, November 21st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC boosted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 1,646.7% during the third quarter. International Assets Investment Management LLC now owns 291,631 shares of the financial services provider’s stock valued at $4,786,000 after buying an additional 274,935 shares during the last quarter. Csenge Advisory Group boosted its position in Flaherty & Crumrine Preferred Securities Income Fund by 8.4% during the 2nd quarter. Csenge Advisory Group now owns 258,862 shares of the financial services provider’s stock valued at $3,829,000 after acquiring an additional 20,120 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Flaherty & Crumrine Preferred Securities Income Fund by 20.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 169,978 shares of the financial services provider’s stock valued at $2,514,000 after acquiring an additional 28,492 shares in the last quarter. Raymond James & Associates boosted its position in Flaherty & Crumrine Preferred Securities Income Fund by 7.8% during the 3rd quarter. Raymond James & Associates now owns 166,060 shares of the financial services provider’s stock valued at $2,725,000 after acquiring an additional 12,062 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the 1st quarter worth $2,046,000.

About Flaherty & Crumrine Preferred Securities Income Fund

Flaherty & Crumrine Preferred Securities Income Fund Inc is a closed-ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.