Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Sees Significant Decline in Short Interest

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 13,800 shares, a drop of 74.0% from the September 30th total of 53,100 shares. Based on an average daily volume of 144,200 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FFC. Wealth Enhancement Advisory Services LLC raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 7.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 46,835 shares of the financial services provider’s stock worth $696,000 after acquiring an additional 3,180 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 44.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 72,453 shares of the financial services provider’s stock worth $1,076,000 after acquiring an additional 22,144 shares in the last quarter. Jacobi Capital Management LLC raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 9.1% in the first quarter. Jacobi Capital Management LLC now owns 13,195 shares of the financial services provider’s stock worth $196,000 after acquiring an additional 1,100 shares in the last quarter. Alpine Global Management LLC raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 8.7% in the first quarter. Alpine Global Management LLC now owns 25,000 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Comerica Bank raised its position in Flaherty & Crumrine Preferred Securities Income Fund by 42.8% in the first quarter. Comerica Bank now owns 5,292 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 1,585 shares in the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

Shares of NYSE FFC traded up $0.03 during mid-day trading on Friday, hitting $16.14. 88,913 shares of the company were exchanged, compared to its average volume of 137,430. The stock has a 50 day simple moving average of $16.17 and a 200-day simple moving average of $15.13. Flaherty & Crumrine Preferred Securities Income Fund has a 1-year low of $12.09 and a 1-year high of $16.74.

Flaherty & Crumrine Preferred Securities Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be issued a dividend of $0.092 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.09. This represents a $1.10 annualized dividend and a dividend yield of 6.84%.

About Flaherty & Crumrine Preferred Securities Income Fund

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.