Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Sees Large Decline in Short Interest

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 98,475 shares, a drop of 40.5% from the December 15th total of 165,552 shares. Based on an average trading volume of 135,198 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 135,198 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Hedge funds have recently added to or reduced their stakes in the company. Bard Associates Inc. lifted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 91.8% in the third quarter. Bard Associates Inc. now owns 854,839 shares of the financial services provider’s stock worth $14,438,000 after acquiring an additional 409,199 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 12.1% in 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 in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of 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 worth $8,782,000 after purchasing an additional 30,697 shares during the last quarter. Gridiron Partners LLC lifted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 229.1% during the 3rd quarter. Gridiron Partners LLC now owns 486,870 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 338,939 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. grew its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 8.6% during the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 386,181 shares of the financial services provider’s stock worth $6,291,000 after purchasing an additional 30,443 shares in the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.7%

NYSE:FFC traded down $0.11 during midday trading on Friday, reaching $16.58. The company had a trading volume of 92,701 shares, compared to its average volume of 106,982. Flaherty & Crumrine Preferred Securities Income Fund has a 12-month low of $14.20 and a 12-month high of $17.00. The stock’s fifty day simple moving average is $16.58 and its 200-day simple moving average is $16.55.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 23rd will be given a dividend of $0.1005 per share. The ex-dividend date of this dividend is Friday, January 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%.

About Flaherty & Crumrine Preferred Securities Income Fund

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.