Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Short Interest Up 83.9% in July

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 187,502 shares, a growth of 83.9% from the July 15th total of 101,971 shares. Based on an average daily trading volume, of 92,658 shares, the days-to-cover ratio is presently 2.0 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

Shares of NYSE:FFC opened at $16.18 on Tuesday. The company has a fifty day simple moving average of $16.11 and a 200 day simple moving average of $16.12. Flaherty & Crumrine Preferred Securities Income Fund has a 12-month low of $14.98 and a 12-month high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be issued a dividend of $0.1046 per share. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Friday, October 23rd.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

A number of institutional investors have recently modified their holdings of the stock. Bard Associates Inc. increased its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 42.7% in the fourth quarter. Bard Associates Inc. now owns 1,219,924 shares of the financial services provider’s stock valued at $20,141,000 after buying an additional 365,085 shares during the last quarter. Stifel Financial Corp lifted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 85.0% during the fourth quarter. Stifel Financial Corp now owns 258,846 shares of the financial services provider’s stock worth $4,274,000 after purchasing an additional 118,912 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter worth $1,801,000. Invesco Ltd. increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 12.1% during the second quarter. Invesco Ltd. now owns 763,056 shares of the financial services provider’s stock valued at $12,430,000 after purchasing an additional 82,477 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 72.3% during the fourth quarter. Fiera Capital Corp now owns 170,617 shares of the financial services provider’s stock worth $2,817,000 after purchasing an additional 71,584 shares during the period.

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.