Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) Sees Significant Decline in Short Interest

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) saw a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 18,325 shares, a decline of 54.6% from the April 15th total of 40,336 shares. Based on an average trading volume of 26,419 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Flaherty & Crumrine Total Return Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in Flaherty & Crumrine Total Return Fund in the fourth quarter valued at about $57,000. Cetera Investment Advisers bought a new stake in Flaherty & Crumrine Total Return Fund in the second quarter valued at about $199,000. Seven Mile Advisory bought a new stake in Flaherty & Crumrine Total Return Fund in the third quarter valued at about $230,000. Kovack Advisors Inc. bought a new stake in Flaherty & Crumrine Total Return Fund in the fourth quarter valued at about $226,000. Finally, Wedbush Securities Inc. increased its holdings in Flaherty & Crumrine Total Return Fund by 50.5% in the third quarter. Wedbush Securities Inc. now owns 15,050 shares of the company’s stock valued at $268,000 after purchasing an additional 5,050 shares during the last quarter.

Flaherty & Crumrine Total Return Fund Trading Down 0.6%

Shares of FLC stock traded down $0.11 on Friday, reaching $16.86. 38,030 shares of the stock were exchanged, compared to its average volume of 22,439. Flaherty & Crumrine Total Return Fund has a one year low of $16.25 and a one year high of $18.09. The stock has a 50 day moving average price of $16.99 and a 200 day moving average price of $17.37.

Flaherty & Crumrine Total Return Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be given a dividend of $0.1047 per share. The ex-dividend date is Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%.

About Flaherty & Crumrine Total Return Fund

Flaherty & Crumrine Total Return Fund Inc (NYSE: FLC) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund principally invests in preferred and other hybrid securities issued by financial services companies, including banks, insurance firms and real estate investment trusts. Listed on the New York Stock Exchange, FLC employs a diversified portfolio approach to access the preferred securities market and generate an attractive income stream for shareholders.

The fund’s investment strategy emphasizes preferred stocks, with at least 65% of its managed assets directed toward these instruments.