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

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 63,300 shares, a growth of 158.4% from the November 30th total of 24,500 shares. Based on an average daily volume of 132,600 shares, the short-interest ratio is currently 0.5 days.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.7 %

Shares of FFC opened at $15.46 on Friday. The stock has a 50 day moving average price of $15.85 and a 200 day moving average price of $15.58. Flaherty & Crumrine Preferred Securities Income Fund has a one year low of $13.72 and a one year high of $16.74.

Flaherty & Crumrine Preferred Securities Income Fund Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a $0.0325 dividend. This represents a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, January 24th.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of FFC. International Assets Investment Management LLC grew its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 1,646.7% in the 3rd quarter. International Assets Investment Management LLC now owns 291,631 shares of the financial services provider’s stock valued at $4,786,000 after buying an additional 274,935 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 20.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 169,978 shares of the financial services provider’s stock valued at $2,514,000 after acquiring an additional 28,492 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 7.8% in the third quarter. Raymond James & Associates now owns 166,060 shares of the financial services provider’s stock valued at $2,725,000 after purchasing an additional 12,062 shares during the period. Stifel Financial Corp increased its position in Flaherty & Crumrine Preferred Securities Income Fund by 461.2% during the third quarter. Stifel Financial Corp now owns 136,754 shares of the financial services provider’s stock worth $2,244,000 after purchasing an additional 112,386 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 34.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 120,354 shares of the financial services provider’s stock worth $1,975,000 after purchasing an additional 30,723 shares during the period.

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.