DAVENPORT & Co LLC Sells 2,000 Shares of Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC)

DAVENPORT & Co LLC decreased its position in shares of Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC – Get Rating) by 9.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 18,878 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. DAVENPORT & Co LLC’s holdings in Flaherty & Crumrine Preferred Securities Income Fund were worth $372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Belpointe Asset Management LLC grew its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 6.6% during the 1st quarter. Belpointe Asset Management LLC now owns 8,864 shares of the financial services provider’s stock worth $174,000 after buying an additional 550 shares in the last quarter. Allworth Financial LP boosted its position in Flaherty & Crumrine Preferred Securities Income Fund by 160.0% during the first quarter. Allworth Financial LP now owns 2,600 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,600 shares in the last quarter. Truist Financial Corp boosted its position in Flaherty & Crumrine Preferred Securities Income Fund by 2.3% during the first quarter. Truist Financial Corp now owns 114,376 shares of the financial services provider’s stock valued at $2,251,000 after purchasing an additional 2,566 shares in the last quarter. Alpha Cubed Investments LLC bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the first quarter valued at about $432,000. Finally, Elevated Capital Advisors LLC bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the first quarter valued at about $2,117,000.

Flaherty & Crumrine Preferred Securities Income Fund Stock Up 0.3 %

Shares of FFC stock opened at $17.01 on Wednesday. Flaherty & Crumrine Preferred Securities Income Fund Inc. has a 1-year low of $16.31 and a 1-year high of $23.40. The stock’s 50-day moving average is $17.36 and its 200 day moving average is $18.67.

Flaherty & Crumrine Preferred Securities Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 23rd will be given a dividend of $0.1075 per share. This represents a $1.29 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date of this dividend is Thursday, September 22nd.

About Flaherty & Crumrine Preferred Securities Income Fund

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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.