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

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 65,300 shares, an increase of 716.3% from the August 15th total of 8,000 shares. Based on an average daily volume of 143,300 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. purchased a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the 1st quarter valued at $51,000. Comerica Bank raised its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 42.8% during the first quarter. Comerica Bank now owns 5,292 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 1,585 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Flaherty & Crumrine Preferred Securities Income Fund in the 1st quarter worth approximately $104,000. Avantax Advisory Services Inc. bought a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund during the fourth quarter worth $141,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 9.3% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 11,773 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 1,000 shares during the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

Shares of Flaherty & Crumrine Preferred Securities Income Fund stock opened at $16.29 on Friday. Flaherty & Crumrine Preferred Securities Income Fund has a 12-month low of $11.90 and a 12-month high of $16.38. The company’s fifty day simple moving average is $15.22 and its two-hundred day simple moving average is $14.76.

Flaherty & Crumrine Preferred Securities Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be paid a $0.0897 dividend. This represents a $1.08 annualized dividend and a dividend yield of 6.61%. This is a positive change from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.09. The ex-dividend date is Monday, September 23rd.

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.