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

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 131,000 shares, an increase of 100.6% from the August 31st total of 65,300 shares. Based on an average daily volume of 151,000 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in FFC. Csenge Advisory Group lifted its position in Flaherty & Crumrine Preferred Securities Income Fund by 8.4% during the 2nd quarter. Csenge Advisory Group now owns 258,862 shares of the financial services provider’s stock worth $3,829,000 after acquiring an additional 20,120 shares during the last quarter. MGO One Seven LLC boosted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 843.3% during the 4th quarter. MGO One Seven LLC now owns 206,261 shares of the financial services provider’s stock valued at $2,867,000 after purchasing an additional 184,394 shares during the period. Envestnet Asset Management Inc. grew its holdings in Flaherty & Crumrine Preferred Securities Income Fund by 20.1% in 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 buying an additional 28,492 shares during the last quarter. Raymond James & Associates increased its position in Flaherty & Crumrine Preferred Securities Income Fund by 3.6% in the 2nd quarter. Raymond James & Associates now owns 153,998 shares of the financial services provider’s stock worth $2,278,000 after buying an additional 5,407 shares during the period. Finally, Gridiron Partners LLC acquired a new position in shares of Flaherty & Crumrine Preferred Securities Income Fund during the fourth quarter worth approximately $2,023,000.

Flaherty & Crumrine Preferred Securities Income Fund Trading Down 0.7 %

Flaherty & Crumrine Preferred Securities Income Fund stock traded down $0.11 during mid-day trading on Thursday, hitting $16.44. The company’s stock had a trading volume of 126,516 shares, compared to its average volume of 138,299. Flaherty & Crumrine Preferred Securities Income Fund has a twelve month low of $11.90 and a twelve month high of $16.74. The stock’s fifty day moving average price is $15.54 and its two-hundred day moving average price is $14.89.

Flaherty & Crumrine Preferred Securities Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 24th will be issued a dividend of $0.0897 per share. This is a positive change from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.09. This represents a $1.08 annualized dividend and a yield of 6.55%. The ex-dividend date is Thursday, October 24th.

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.