Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Shares Shorted: Short Interest Up 5,427.4% in October

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) saw a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 36,149 shares, a growth of 5,427.4% from the October 15th total of 654 shares. Based on an average trading volume of 203,240 shares, the days-to-cover ratio is presently 0.2 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Down 0.4%

Shares of NYSE:FFC opened at $15.04 on Thursday. The company has a 50 day moving average of $15.00 and a 200 day moving average of $15.84. Flaherty & Crumrine Preferred Securities Income Fund has a 12 month low of $14.26 and a 12 month high of $16.95.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be issued a $0.1046 dividend. This represents a $1.26 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FFC. International Assets Investment Management LLC increased its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 10,936.1% in the third quarter. International Assets Investment Management LLC now owns 1,954,158 shares of the financial services provider’s stock worth $29,195,000 after purchasing an additional 1,936,451 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 11.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 472,352 shares of the financial services provider’s stock valued at $7,690,000 after buying an additional 47,574 shares during the period. Noble Wealth Management PBC boosted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 77.8% during the second quarter. Noble Wealth Management PBC now owns 72,317 shares of the financial services provider’s stock valued at $1,177,000 after buying an additional 31,655 shares during the period. Readystate Asset Management LP bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the first quarter valued at $458,000. Finally, Wedbush Securities Inc. purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund during the third quarter worth about $317,000.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

Flaherty & Crumrine Preferred Securities Income Fund, Inc. (NYSE:FFC) is a closed-end investment company that seeks to provide investors with a high level of current income, while pursuing capital appreciation as a secondary objective. The fund invests primarily in preferred securities and other income-producing securities. Its portfolio may include securities issued by companies in sectors such as financial services, utilities and telecommunications, with investments selected based on factors including credit quality, income potential and market conditions.