Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) Shares Shorted: Short Interest Up 125.6% in October

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 53,950 shares, an increase of 125.6% from the September 30th total of 23,909 shares. Based on an average daily trading volume, of 41,709 shares, the days-to-cover ratio is currently 1.3 days.

Flaherty & Crumrine Total Return Fund Price Performance

Shares of FLC stock traded down $0.16 during trading hours on Friday, reaching $15.64. 19,628 shares of the company’s stock were exchanged, compared to its average volume of 24,606. Flaherty & Crumrine Total Return Fund has a 1 year low of $15.33 and a 1 year high of $18.09. The stock’s fifty day moving average price is $15.97 and its two-hundred day moving average price is $16.81.

Flaherty & Crumrine Total Return Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.1067 per share. This represents a $1.28 annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Friday, November 20th.

Hedge Funds Weigh In On Flaherty & Crumrine Total Return Fund

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE acquired a new stake in shares of Flaherty & Crumrine Total Return Fund during the second quarter worth about $4,414,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Flaherty & Crumrine Total Return Fund by 21.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 241,468 shares of the company’s stock worth $4,081,000 after purchasing an additional 42,263 shares during the period. Susquehanna International Group LLP purchased a new position in shares of Flaherty & Crumrine Total Return Fund during the 2nd quarter valued at approximately $297,000. Readystate Asset Management LP purchased a new position in shares of Flaherty & Crumrine Total Return Fund during the 2nd quarter valued at approximately $261,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Flaherty & Crumrine Total Return Fund in the 3rd quarter valued at $197,000.

Flaherty & Crumrine Total Return Fund Company Profile

Flaherty & Crumrine Total Return Fund (NYSE: FLC) is a closed-end investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund invests primarily in preferred securities and other income-producing investments.

FLC’s portfolio may include preferred stocks, hybrid securities, corporate debt, and other fixed-income instruments. The fund generally emphasizes securities issued by companies in the financial services sector, while also investing across other industries and in issuers based in the United States and other countries.

The fund is managed by Flaherty & Crumrine Incorporated, an investment adviser specializing in preferred securities and related income-oriented investments.