Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC – Get Free Report) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 102,391 shares, a growth of 137.8% from the June 15th total of 43,066 shares. Based on an average daily trading volume, of 115,158 shares, the short-interest ratio is presently 0.9 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Fiera Capital Corp lifted its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 72.3% in the 4th quarter. Fiera Capital Corp now owns 170,617 shares of the financial services provider’s stock worth $2,817,000 after buying an additional 71,584 shares during the period. Bard Associates Inc. increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 42.7% during the fourth quarter. Bard Associates Inc. now owns 1,219,924 shares of the financial services provider’s stock valued at $20,141,000 after buying an additional 365,085 shares during the period. Ceera Investments LLC raised its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 3.1% during the fourth quarter. Ceera Investments LLC now owns 32,240 shares of the financial services provider’s stock valued at $532,000 after acquiring an additional 960 shares in the last quarter. Csenge Advisory Group raised its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 0.8% during the fourth quarter. Csenge Advisory Group now owns 320,310 shares of the financial services provider’s stock valued at $5,288,000 after acquiring an additional 2,593 shares in the last quarter. Finally, Everstar Asset Management LLC lifted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 5.4% in the fourth quarter. Everstar Asset Management LLC now owns 50,473 shares of the financial services provider’s stock worth $813,000 after acquiring an additional 2,573 shares during the period.
Flaherty & Crumrine Preferred Securities Income Fund Price Performance
NYSE FFC traded down $0.05 during trading on Thursday, reaching $16.21. The company’s stock had a trading volume of 53,074 shares, compared to its average volume of 114,610. The firm has a fifty day moving average of $16.01 and a 200 day moving average of $16.18. Flaherty & Crumrine Preferred Securities Income Fund has a one year low of $14.98 and a one year high of $17.00.
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.
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