Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Short Interest Up 21.3% in March

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 25,785 shares, an increase of 21.3% from the February 26th total of 21,249 shares. Based on an average trading volume of 167,612 shares, the short-interest ratio is currently 0.2 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

Shares of Flaherty & Crumrine Preferred Securities Income Fund stock opened at $15.47 on Wednesday. Flaherty & Crumrine Preferred Securities Income Fund has a one year low of $14.20 and a one year high of $17.00. The stock’s 50-day moving average is $16.32 and its 200 day moving average is $16.54.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be paid a $0.1005 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a c) annualized dividend and a yield of 7.8%.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Large investors have recently modified their holdings of the stock. Smith Asset Management Co. LLC increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 1.2% in the 4th quarter. Smith Asset Management Co. LLC now owns 73,885 shares of the financial services provider’s stock valued at $1,220,000 after acquiring an additional 908 shares in the last quarter. Beacon Pointe Advisors LLC bought a new position in Flaherty & Crumrine Preferred Securities Income Fund during the fourth quarter worth $1,801,000. NewEdge Advisors LLC grew its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 19.0% in the fourth quarter. NewEdge Advisors LLC now owns 19,347 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 3,092 shares during the period. Cetera Investment Advisers grew its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 1.2% in the fourth quarter. Cetera Investment Advisers now owns 120,867 shares of the financial services provider’s stock worth $1,995,000 after purchasing an additional 1,376 shares during the period. Finally, Osaic Holdings Inc. increased its stake in Flaherty & Crumrine Preferred Securities Income Fund by 8.3% in the fourth quarter. Osaic Holdings Inc. now owns 133,983 shares of the financial services provider’s stock valued at $2,212,000 after purchasing an additional 10,248 shares in the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

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.