Hennion & Walsh Asset Management Inc. Raises Stock Position in Flaherty & Crumrine Preferred Securities Income Fund Inc. $FFC

Hennion & Walsh Asset Management Inc. grew its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) by 16.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 339,284 shares of the financial services provider’s stock after acquiring an additional 46,863 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Flaherty & Crumrine Preferred Securities Income Fund were worth $5,731,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in Flaherty & Crumrine Preferred Securities Income Fund in the second quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the 2nd quarter valued at $58,000. Mather Group LLC. purchased a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the 3rd quarter worth $79,000. Gridiron Partners LLC lifted its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 229.1% in the 3rd quarter. Gridiron Partners LLC now owns 486,870 shares of the financial services provider’s stock worth $82,000 after buying an additional 338,939 shares during the period. Finally, Maryland Capital Advisors Inc. bought a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund during the 2nd quarter worth $91,000.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

Shares of Flaherty & Crumrine Preferred Securities Income Fund stock opened at $16.52 on Tuesday. The stock’s fifty day moving average price is $16.62 and its 200-day moving average price is $16.52. Flaherty & Crumrine Preferred Securities Income Fund Inc. has a 12 month low of $14.20 and a 12 month high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 23rd will be given a dividend of $0.1005 per share. The ex-dividend date of this dividend is Friday, January 23rd. This represents a c) dividend on an annualized basis and a yield of 7.3%.

Flaherty & Crumrine Preferred Securities Income Fund Profile

Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) is a closed-end management investment company that seeks to provide investors with high current income as its primary investment objective. Launched in 1995, the fund pursues this goal by investing primarily in preferred securities, including U.S. and non-U.S. preferred stocks, trust preferred securities, and certain convertible and hybrid instruments. The fund’s diversified portfolio typically spans corporate, financial and utility sectors, with a focus on instruments that offer attractive dividend yields.

In constructing its portfolio, FFC may employ leverage to enhance income generation and diversify across credit qualities and maturities.