Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) Sees Significant Growth in Short Interest

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 7,976 shares, an increase of 77.3% from the August 15th total of 4,499 shares. Based on an average daily volume of 18,425 shares, the short-interest ratio is presently 0.4 days.

Flaherty & Crumrine Total Return Fund Price Performance

FLC stock traded up $0.01 during trading on Wednesday, reaching $16.04. 69,958 shares of the company were exchanged, compared to its average volume of 21,696. The company has a 50-day moving average of $16.69 and a two-hundred day moving average of $16.86. Flaherty & Crumrine Total Return Fund has a twelve month low of $15.89 and a twelve month high of $18.09.

Flaherty & Crumrine Total Return Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.1067 per share. The ex-dividend date is Friday, October 23rd. This represents a c) annualized dividend and a dividend yield of 8.0%.

Institutional Investors Weigh In On Flaherty & Crumrine Total Return Fund

Hedge funds have recently modified their holdings of the company. Sit Investment Associates Inc. increased its position in shares of Flaherty & Crumrine Total Return Fund by 6.9% during the fourth quarter. Sit Investment Associates Inc. now owns 1,039,130 shares of the company’s stock worth $18,185,000 after buying an additional 66,761 shares during the period. Closed End Fund Advisors Inc. acquired a new position in Flaherty & Crumrine Total Return Fund in the fourth quarter valued at $789,000. Hennion & Walsh Asset Management Inc. boosted its position in Flaherty & Crumrine Total Return Fund by 21.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 241,468 shares of the company’s stock valued at $4,081,000 after acquiring an additional 42,263 shares during the last quarter. Fiera Capital Corp grew its holdings in Flaherty & Crumrine Total Return Fund by 114.4% during the 4th quarter. Fiera Capital Corp now owns 70,401 shares of the company’s stock worth $1,232,000 after acquiring an additional 37,558 shares during the period. Finally, Noble Wealth Management PBC grew its holdings in Flaherty & Crumrine Total Return Fund by 3.8% during the 2nd quarter. Noble Wealth Management PBC now owns 225,747 shares of the company’s stock worth $3,815,000 after acquiring an additional 8,257 shares during the period.

Flaherty & Crumrine Total Return Fund Company Profile

Flaherty & Crumrine Total Return Fund Inc (NYSE: FLC) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund principally invests in preferred and other hybrid securities issued by financial services companies, including banks, insurance firms and real estate investment trusts. Listed on the New York Stock Exchange, FLC employs a diversified portfolio approach to access the preferred securities market and generate an attractive income stream for shareholders.

The fund’s investment strategy emphasizes preferred stocks, with at least 65% of its managed assets directed toward these instruments.