Ameriprise Financial Inc. Cuts Stake in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC)

Ameriprise Financial Inc. cut its stake in Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,817 shares of the financial services provider’s stock after selling 3,552 shares during the quarter. Ameriprise Financial Inc.’s holdings in Flaherty & Crumrine Preferred Securities Income Fund were worth $4,283,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter valued at about $173,000. Landscape Capital Management L.L.C. purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter valued at about $190,000. Independent Advisor Alliance purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter valued at about $210,000. Janney Montgomery Scott LLC purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter valued at about $246,000. Finally, US Bancorp DE raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 6.8% in the fourth quarter. US Bancorp DE now owns 16,456 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 1,050 shares during the period.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

Shares of Flaherty & Crumrine Preferred Securities Income Fund stock opened at $15.56 on Monday. The business has a 50-day moving average of $15.42 and a 200-day moving average of $15.71. Flaherty & Crumrine Preferred Securities Income Fund Inc. has a 1-year low of $14.20 and a 1-year high of $16.74.

Flaherty & Crumrine Preferred Securities Income Fund Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 26th will be paid a dividend of $0.0939 per share. The ex-dividend date is Friday, May 23rd. This is an increase from Flaherty & Crumrine Preferred Securities Income Fund’s previous dividend of $0.09. This represents a dividend yield of 7.15%.

Flaherty & Crumrine Preferred Securities Income Fund Company 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.