Flaherty & Crumrine Preferred Securities Income Fund Inc. $FFC Stock Position Lifted by Bard Associates Inc.

Bard Associates Inc. raised its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) by 42.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,219,924 shares of the financial services provider’s stock after buying an additional 365,085 shares during the quarter. Flaherty & Crumrine Preferred Securities Income Fund makes up approximately 5.2% of Bard Associates Inc.’s portfolio, making the stock its 2nd biggest position. Bard Associates Inc.’s holdings in Flaherty & Crumrine Preferred Securities Income Fund were worth $20,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FFC. Stifel Financial Corp increased its position in Flaherty & Crumrine Preferred Securities Income Fund by 85.0% during the 4th quarter. Stifel Financial Corp now owns 258,846 shares of the financial services provider’s stock valued at $4,274,000 after purchasing an additional 118,912 shares during the period. Fiera Capital Corp purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund during the 3rd quarter valued at $1,673,000. Invesco Ltd. increased its position in Flaherty & Crumrine Preferred Securities Income Fund by 12.1% during the 2nd 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 period. Envestnet Asset Management Inc. increased its position in Flaherty & Crumrine Preferred Securities Income Fund by 6.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 519,977 shares of the financial services provider’s stock valued at $8,782,000 after purchasing an additional 30,697 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in Flaherty & Crumrine Preferred Securities Income Fund by 8.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 369,316 shares of the financial services provider’s stock valued at $6,097,000 after purchasing an additional 30,032 shares during the period.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

Shares of Flaherty & Crumrine Preferred Securities Income Fund stock opened at $15.80 on Friday. Flaherty & Crumrine Preferred Securities Income Fund Inc. has a 12-month low of $14.98 and a 12-month high of $17.00. The company’s fifty day simple moving average is $15.96 and its two-hundred day simple moving average is $16.26.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

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

Flaherty & Crumrine Preferred Securities Income Fund 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.