Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Sees Large Growth in Short Interest

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 165,552 shares, an increase of 66.2% from the November 30th total of 99,602 shares. Based on an average daily volume of 126,700 shares, the short-interest ratio is currently 1.3 days. Based on an average daily volume of 126,700 shares, the short-interest ratio is currently 1.3 days.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

Shares of NYSE FFC traded down $0.03 during midday trading on Friday, hitting $16.47. 145,966 shares of the stock traded hands, compared to its average volume of 116,372. Flaherty & Crumrine Preferred Securities Income Fund has a one year low of $14.20 and a one year high of $17.00. The firm has a 50-day moving average of $16.63 and a two-hundred day moving average of $16.50.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 23rd will be issued a $0.1005 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a c) dividend on an annualized basis and a yield of 7.3%.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Capital Management Inc. boosted its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 3.2% in the third quarter. Integrated Capital Management Inc. now owns 19,178 shares of the financial services provider’s stock worth $324,000 after buying an additional 596 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 5.2% during the first quarter. Jacobi Capital Management LLC now owns 24,460 shares of the financial services provider’s stock valued at $390,000 after buying an additional 1,200 shares during the last quarter. Smith Asset Management Co. LLC raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 2.3% in the third quarter. Smith Asset Management Co. LLC now owns 72,977 shares of the financial services provider’s stock worth $1,233,000 after acquiring an additional 1,613 shares during the period. Silver Oak Securities Incorporated boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 13.2% during the 3rd quarter. Silver Oak Securities Incorporated now owns 14,088 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 1,647 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund during the 2nd quarter valued at $27,000.

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.