Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Short interest down 62.2% in March



Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE: FFC – Get Rating) was the target of a significant drop in short interest in March. As of March 31, there was short interest totaling 18,300 shares, down 62.2% from the March 15 total of 48,400 shares. Based on an average daily volume of 155,900 shares, the short interest rate is currently 0.1 day.

FFC shares were down $0.30 on Friday, hitting $18.82. 134,148 shares of the stock have been traded, compared to its average volume of 151,773. The company has a 50-day simple moving average of $19.22 and a 200-day simple moving average of $20.88 . The Flaherty & Crumrine Preferred Securities Income Fund has a one-year low of $18.15 and a one-year high of $23.79.

The company also recently declared a monthly dividend, which will be paid on Friday, April 29. Investors of record on Friday, April 22 will receive a dividend of $0.124 per share. This represents an annualized dividend of $1.49 and a dividend yield of 7.91%. The ex-dividend date is Thursday, April 21.

Institutional investors and hedge funds have recently changed their positions in the stock. Royal Bank of Canada increased its position in the Flaherty & Crumrine Preferred Securities Income Fund by 0.6% in the third quarter. Royal Bank of Canada now owns 815,392 shares of the financial services provider worth $18,160,000 after purchasing an additional 5,196 shares during the period. Morgan Stanley increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 9.6% during the third quarter. Morgan Stanley now owns 666,009 shares of the financial services provider valued at $14,832,000 after buying an additional 58,335 shares last quarter. Invesco Ltd. increased its stake in shares of Flaherty & Crumrine Preferred Securities Income Fund by 22.1% during the 4th quarter. Invesco Ltd. now owns 413,554 shares of the financial services provider valued at $8,982,000 after purchasing an additional 74,854 shares last quarter. LPL Financial LLC increased its stake in the shares of Flaherty & Crumrine Preferred Securities Income Fund by 17.2% during the 3rd quarter. LPL Financial LLC now owns 304,967 shares of the financial services provider valued at $6,792,000 after purchasing an additional 44,850 shares last quarter. Finally, Commonwealth Equity Services LLC increased its stake in the shares of Flaherty & Crumrine Preferred Securities Income Fund by 2.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 291,705 shares of the financial services provider valued at $6,335,000 after buying an additional 7,127 shares last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile (Get an evaluation)

Flaherty & Crumrine Preferred Securities Income Fund Inc. is a closed-end balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in US public equity and fixed income markets. It seeks to invest in securities of companies operating in diversified sectors.

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