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 recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 77,700 shares, an increase of 16.0% from the February 13th total of 67,000 shares. Based on an average daily trading volume, of 121,600 shares, the days-to-cover ratio is presently 0.6 days.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

FFC stock opened at $16.19 on Friday. Flaherty & Crumrine Preferred Securities Income Fund has a 12 month low of $13.72 and a 12 month high of $16.74. The company’s 50-day moving average price is $15.97 and its two-hundred day moving average price is $16.00.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 23rd will be issued a $0.092 dividend. This represents a $1.10 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend is Wednesday, April 23rd.

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

Hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 15.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 52,374 shares of the financial services provider’s stock valued at $859,000 after purchasing an additional 6,891 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 151.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 55,882 shares of the financial services provider’s stock valued at $917,000 after purchasing an additional 33,682 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 238.3% in the 3rd quarter. HighTower Advisors LLC now owns 78,343 shares of the financial services provider’s stock valued at $1,281,000 after purchasing an additional 55,185 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 461.2% in the 3rd quarter. Stifel Financial Corp now owns 136,754 shares of the financial services provider’s stock valued at $2,244,000 after purchasing an additional 112,386 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the 3rd quarter valued at approximately $173,000.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

Flaherty & Crumrine Preferred Securities Income Fund Inc is a closed-ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.