Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Short Interest Up 92.8% in April

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 39,651 shares, a growth of 92.8% from the April 15th total of 20,569 shares. Based on an average daily volume of 111,487 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FFC. Bard Associates Inc. lifted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 91.8% in the third quarter. Bard Associates Inc. now owns 854,839 shares of the financial services provider’s stock valued at $14,438,000 after acquiring an additional 409,199 shares during the period. Stifel Financial Corp lifted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 85.0% in the fourth quarter. Stifel Financial Corp now owns 258,846 shares of the financial services provider’s stock valued at $4,274,000 after acquiring an additional 118,912 shares during the period. Beacon Pointe Advisors LLC acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter valued at approximately $1,801,000. Fiera Capital Corp acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund in the third quarter valued at approximately $1,673,000. Finally, Invesco Ltd. lifted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 12.1% in the second quarter. Invesco Ltd. now owns 763,056 shares of the financial services provider’s stock valued at $12,430,000 after acquiring an additional 82,477 shares during the period.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.1%

Shares of Flaherty & Crumrine Preferred Securities Income Fund stock traded down $0.02 on Monday, reaching $15.77. 148,923 shares of the stock were exchanged, compared to its average volume of 113,631. Flaherty & Crumrine Preferred Securities Income Fund has a twelve month low of $14.98 and a twelve month high of $17.00. The business has a 50 day moving average price of $15.88 and a two-hundred day moving average price of $16.37.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%.

About Flaherty & Crumrine Preferred Securities Income Fund

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.