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

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 44,900 shares, a drop of 49.7% from the January 15th total of 89,200 shares. Based on an average trading volume of 134,100 shares, the short-interest ratio is presently 0.3 days.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

Shares of NYSE:FFC traded up $0.10 during midday trading on Friday, hitting $16.21. 73,866 shares of the stock were exchanged, compared to its average volume of 123,102. Flaherty & Crumrine Preferred Securities Income Fund has a 52-week low of $13.72 and a 52-week high of $16.74. The business’s fifty day simple moving average is $15.82 and its two-hundred day simple moving average is $15.85.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be issued a dividend of $0.092 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $1.10 annualized dividend and a dividend yield of 6.81%.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 184.7% during the fourth quarter. Wells Fargo & Company MN now owns 872,516 shares of the financial services provider’s stock valued at $13,550,000 after buying an additional 566,083 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 1,646.7% during the third 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. Sit Investment Associates Inc. bought a new position in Flaherty & Crumrine Preferred Securities Income Fund during the fourth quarter valued at about $4,260,000. 1607 Capital Partners LLC raised its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 283.2% during the fourth quarter. 1607 Capital Partners LLC now owns 310,250 shares of the financial services provider’s stock valued at $4,818,000 after buying an additional 229,284 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Flaherty & Crumrine Preferred Securities Income Fund during the fourth quarter valued at about $3,115,000.

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.