Western Wealth Management LLC Cuts Stake in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC)

Western Wealth Management LLC reduced its stake in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) by 22.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 77,362 shares of the financial services provider’s stock after selling 22,210 shares during the period. Western Wealth Management LLC’s holdings in Flaherty & Crumrine Preferred Securities Income Fund were worth $1,075,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FFC. Invesco Ltd. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 29.7% in the 3rd quarter. Invesco Ltd. now owns 621,450 shares of the financial services provider’s stock valued at $8,060,000 after acquiring an additional 142,244 shares during the period. Bank of America Corp DE raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 12.9% in the 1st quarter. Bank of America Corp DE now owns 532,600 shares of the financial services provider’s stock valued at $7,371,000 after acquiring an additional 60,793 shares during the period. Cerity Partners LLC bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund in the 4th quarter valued at about $5,250,000. RPO LLC bought a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund during the third quarter valued at about $4,177,000. Finally, Ameriprise Financial Inc. increased its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 90.7% during the first quarter. Ameriprise Financial Inc. now owns 292,373 shares of the financial services provider’s stock valued at $4,047,000 after buying an additional 139,093 shares during the period.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.1 %

Shares of FFC opened at $13.95 on Friday. The business’s 50-day moving average price is $14.49 and its 200-day moving average price is $13.84. Flaherty & Crumrine Preferred Securities Income Fund Inc. has a twelve month low of $11.90 and a twelve month high of $14.96.

Flaherty & Crumrine Preferred Securities Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 21st will be given a $0.088 dividend. This represents a $1.06 annualized dividend and a dividend yield of 7.57%. This is a boost from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.08. The ex-dividend date is Friday, June 21st.

Flaherty & Crumrine Preferred Securities Income Fund Profile

Flaherty & Crumrine Preferred Securities Income Fund Inc is a closed-ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.