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

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totaling 2,286 shares, a decline of 60.8% from the June 30th total of 5,832 shares. Based on an average trading volume of 12,721 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Flaherty & Crumrine Total Return Fund

Several hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Flaherty & Crumrine Total Return Fund by 57.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 158,784 shares of the company’s stock worth $2,779,000 after buying an additional 57,626 shares in the last quarter. Sit Investment Associates Inc. increased its position in shares of Flaherty & Crumrine Total Return Fund by 6.9% during the fourth quarter. Sit Investment Associates Inc. now owns 1,039,130 shares of the company’s stock valued at $18,185,000 after acquiring an additional 66,761 shares in the last quarter. Closed End Fund Advisors Inc. purchased a new position in Flaherty & Crumrine Total Return Fund in the 4th quarter worth approximately $789,000. Fiera Capital Corp lifted its position in Flaherty & Crumrine Total Return Fund by 114.4% in the 4th quarter. Fiera Capital Corp now owns 70,401 shares of the company’s stock valued at $1,232,000 after acquiring an additional 37,558 shares in the last quarter. Finally, Kovack Advisors Inc. purchased a new stake in Flaherty & Crumrine Total Return Fund during the 4th quarter valued at $227,000.

Flaherty & Crumrine Total Return Fund Price Performance

Shares of FLC stock traded up $0.08 during trading hours on Tuesday, hitting $16.72. 37,666 shares of the company’s stock traded hands, compared to its average volume of 21,793. The stock’s fifty day simple moving average is $16.82 and its two-hundred day simple moving average is $17.14. Flaherty & Crumrine Total Return Fund has a 12-month low of $15.89 and a 12-month high of $18.09.

Flaherty & Crumrine Total Return Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be given a dividend of $0.1067 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Friday, October 23rd.

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.