Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Short Interest Update

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 39,651 shares, an increase of 92.8% from the April 15th total of 20,569 shares. Based on an average trading volume of 111,487 shares, the short-interest ratio is currently 0.4 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

NYSE FFC traded down $0.22 during trading on Friday, hitting $15.81. The stock had a trading volume of 148,343 shares, compared to its average volume of 113,252. The firm has a 50 day moving average price of $15.89 and a 200 day moving average price of $16.37. Flaherty & Crumrine Preferred Securities Income Fund has a twelve month low of $14.98 and a twelve month high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be issued a $0.1025 dividend. The ex-dividend date is Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FFC. Sound Income Strategies LLC grew its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 61.5% in the fourth quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,060 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter valued at $67,000. Larson Financial Group LLC acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund during the 3rd quarter worth $93,000. Fifth Third Bancorp acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund during the 1st quarter worth $118,000. Finally, Advisory Services Network LLC purchased a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the 3rd quarter worth about $120,000.

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.