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

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) was the target of a significant increase in short interest in 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 trading volume of 151,000 shares, the days-to-cover ratio is currently 0.9 days.

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

Several institutional investors have recently added to or reduced their stakes in FFC. MGO One Seven LLC increased its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 843.3% during the fourth quarter. MGO One Seven LLC now owns 206,261 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 184,394 shares in the last quarter. Gridiron Partners LLC bought a new position in Flaherty & Crumrine Preferred Securities Income Fund in the 4th quarter valued at $2,023,000. Cetera Investment Advisers bought a new position in Flaherty & Crumrine Preferred Securities Income Fund in the 1st quarter valued at $2,046,000. Connectus Wealth LLC acquired a new position in Flaherty & Crumrine Preferred Securities Income Fund in the fourth quarter worth $1,414,000. Finally, Logan Stone Capital LLC bought a new stake in shares of Flaherty & Crumrine Preferred Securities Income Fund during the second quarter worth $462,000.

Flaherty & Crumrine Preferred Securities Income Fund Price Performance

Shares of Flaherty & Crumrine Preferred Securities Income Fund stock traded down $0.01 during midday trading on Friday, hitting $16.44. 143,655 shares of the company were exchanged, compared to its average volume of 138,328. The firm has a 50 day simple moving average of $15.58 and a 200-day simple moving average of $14.91. Flaherty & Crumrine Preferred Securities Income Fund has a 52 week low of $11.90 and a 52 week high of $16.74.

Flaherty & Crumrine Preferred Securities Income Fund Increases Dividend

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

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.