Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) Sees Significant Growth in Short Interest

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 53,950 shares, an increase of 125.6% from the September 30th total of 23,909 shares. Based on an average trading volume of 41,709 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FLC. Bank of America Corp DE purchased a new stake in Flaherty & Crumrine Total Return Fund in the 2nd quarter valued at about $4,414,000. Hennion & Walsh Asset Management Inc. grew its stake in Flaherty & Crumrine Total Return Fund by 21.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 241,468 shares of the company’s stock worth $4,081,000 after acquiring an additional 42,263 shares in the last quarter. Noble Wealth Management PBC grew its stake in Flaherty & Crumrine Total Return Fund by 5.0% in the 3rd quarter. Noble Wealth Management PBC now owns 237,041 shares of the company’s stock worth $3,733,000 after acquiring an additional 11,294 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Flaherty & Crumrine Total Return Fund by 45.5% during the first quarter. Cetera Investment Advisers now owns 28,839 shares of the company’s stock worth $479,000 after acquiring an additional 9,014 shares during the period. Finally, Susquehanna International Group LLP purchased a new position in shares of Flaherty & Crumrine Total Return Fund during the second quarter worth approximately $297,000.

Flaherty & Crumrine Total Return Fund Stock Performance

NYSE:FLC traded down $0.16 during mid-day trading on Friday, hitting $15.64. 19,628 shares of the stock traded hands, compared to its average volume of 24,606. Flaherty & Crumrine Total Return Fund has a 52 week low of $15.33 and a 52 week high of $18.09. The firm’s 50 day moving average is $15.94 and its two-hundred day moving average is $16.80.

Flaherty & Crumrine Total Return Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a dividend of $0.1067 per share. This represents a $1.28 annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Friday, November 20th.

Flaherty & Crumrine Total Return Fund Company Profile

Flaherty & Crumrine Total Return Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol FLC. The fund is managed by Flaherty & Crumrine Incorporated, an investment adviser specializing in preferred securities and related income-producing investments.

FLC seeks to provide investors with current income and long-term total return. Its portfolio primarily consists of preferred securities and debt securities issued by companies in sectors such as financial services, utilities, telecommunications and other corporate industries.