Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC)’s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $16.56 and traded as high as $16.60. Flaherty & Crumrine Preferred Securities Income Fund shares last traded at $16.58, with a volume of 98,407 shares trading hands.

Flaherty & Crumrine Preferred Securities Income Fund Stock Up 0.5%

The company’s 50 day simple moving average is $16.56 and its 200-day simple moving average is $16.55.

Flaherty & Crumrine Preferred Securities Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 23rd will be paid a dividend of $0.1005 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a c) annualized dividend and a yield of 7.3%.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Several institutional investors and hedge funds have recently modified their holdings of FFC. Gridiron Partners LLC increased its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 229.1% in the 3rd quarter. Gridiron Partners LLC now owns 486,870 shares of the financial services provider’s stock worth $82,000 after buying an additional 338,939 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 13.3% during the second quarter. Envestnet Asset Management Inc. now owns 489,280 shares of the financial services provider’s stock valued at $7,970,000 after purchasing an additional 57,473 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. lifted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 8.6% during the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 386,181 shares of the financial services provider’s stock worth $6,291,000 after purchasing an additional 30,443 shares during the last quarter. Ceera Investments LLC purchased a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund in the 2nd quarter worth about $394,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 16.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 339,284 shares of the financial services provider’s stock valued at $5,731,000 after purchasing an additional 46,863 shares during the last quarter.

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.