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

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFCGet Free Report) 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

(Get Free Report)

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.

Further Reading

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