Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) Stock Passes Below 200-Day Moving Average – What’s Next?

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.17 and traded as low as $16.14. Flaherty & Crumrine Preferred Securities Income Fund shares last traded at $16.3240, with a volume of 88,311 shares trading hands.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 1.1%

The firm’s fifty day simple moving average is $16.02 and its 200 day simple moving average is $16.17.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FFC. Whitener Capital Management Inc. grew its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 3.2% during the 2nd quarter. Whitener Capital Management Inc. now owns 25,585 shares of the financial services provider’s stock valued at $417,000 after buying an additional 800 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 11.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 472,352 shares of the financial services provider’s stock worth $7,690,000 after acquiring an additional 47,574 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund during the 2nd quarter valued at approximately $47,000. Noble Wealth Management PBC grew its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 77.8% in the second quarter. Noble Wealth Management PBC now owns 72,317 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 31,655 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund in the first quarter valued at $458,000.

Flaherty & Crumrine Preferred Securities Income Fund Company 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.