Short Interest in Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) Expands By 77.3%

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 7,976 shares, an increase of 77.3% from the August 15th total of 4,499 shares. Based on an average daily volume of 18,425 shares, the days-to-cover ratio is presently 0.4 days.

Flaherty & Crumrine Total Return Fund Stock Up 0.7%

NYSE FLC traded up $0.12 during midday trading on Thursday, hitting $16.14. 35,160 shares of the company traded hands, compared to its average volume of 21,772. Flaherty & Crumrine Total Return Fund has a 52 week low of $15.89 and a 52 week high of $18.09. The company’s 50-day simple moving average is $16.65 and its 200-day simple moving average is $16.84.

Flaherty & Crumrine Total Return Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be given a $0.1067 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Sit Investment Associates Inc. raised its stake in shares of Flaherty & Crumrine Total Return Fund by 6.9% during the 4th quarter. Sit Investment Associates Inc. now owns 1,039,130 shares of the company’s stock valued at $18,185,000 after buying an additional 66,761 shares during the last quarter. Bank of America Corp DE purchased a new position in Flaherty & Crumrine Total Return Fund in the 2nd quarter valued at about $4,414,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Flaherty & Crumrine Total Return Fund by 21.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 241,468 shares of the company’s stock worth $4,081,000 after purchasing an additional 42,263 shares in the last quarter. Noble Wealth Management PBC raised its holdings in Flaherty & Crumrine Total Return Fund by 3.8% in the 2nd quarter. Noble Wealth Management PBC now owns 225,747 shares of the company’s stock valued at $3,815,000 after acquiring an additional 8,257 shares during the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of Flaherty & Crumrine Total Return Fund by 114.4% in the fourth quarter. Fiera Capital Corp now owns 70,401 shares of the company’s stock valued at $1,232,000 after purchasing an additional 37,558 shares during the last quarter.

About Flaherty & Crumrine Total Return Fund

Flaherty & Crumrine Total Return Fund Inc (NYSE: FLC) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund principally invests in preferred and other hybrid securities issued by financial services companies, including banks, insurance firms and real estate investment trusts. Listed on the New York Stock Exchange, FLC employs a diversified portfolio approach to access the preferred securities market and generate an attractive income stream for shareholders.

The fund’s investment strategy emphasizes preferred stocks, with at least 65% of its managed assets directed toward these instruments.