Hennion & Walsh Asset Management Inc. Grows Holdings in Flaherty & Crumrine Preferred Securities Income Fund Inc. $FFC

Hennion & Walsh Asset Management Inc. lifted its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) by 11.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,352 shares of the financial services provider’s stock after buying an additional 47,574 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Flaherty & Crumrine Preferred Securities Income Fund were worth $7,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Sound Income Strategies LLC raised its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 61.5% in the fourth quarter. Sound Income Strategies LLC now owns 2,783 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,060 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund during the 2nd quarter worth $47,000. Larson Financial Group LLC acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund during the 3rd quarter worth $93,000. Fifth Third Bancorp bought a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the 1st quarter worth about $118,000. Finally, Advisory Services Network LLC bought a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund in the 3rd quarter worth about $120,000.

Flaherty & Crumrine Preferred Securities Income Fund Stock Performance

Shares of Flaherty & Crumrine Preferred Securities Income Fund stock opened at $16.23 on Friday. Flaherty & Crumrine Preferred Securities Income Fund Inc. has a 1 year low of $14.98 and a 1 year high of $17.00. The firm’s 50-day simple moving average is $16.08 and its 200-day simple moving average is $16.14.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be issued a $0.1046 dividend. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Friday, October 23rd.

About Flaherty & Crumrine Preferred Securities Income Fund

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.