Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Declares Dividend Increase – $0.09 Per Share

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Friday, June 21st will be paid a dividend of 0.088 per share by the financial services provider on Friday, June 28th. This represents a $1.06 annualized dividend and a yield of 7.57%. The ex-dividend date of this dividend is Friday, June 21st. This is a boost from Flaherty & Crumrine Preferred Securities Income Fund’s previous monthly dividend of $0.08.

Flaherty & Crumrine Preferred Securities Income Fund has decreased its dividend payment by an average of 3.6% annually over the last three years.

Flaherty & Crumrine Preferred Securities Income Fund Stock Down 0.1 %

Shares of FFC stock opened at $13.95 on Friday. The business has a 50-day moving average price of $14.48 and a two-hundred day moving average price of $13.85. Flaherty & Crumrine Preferred Securities Income Fund has a 12-month low of $11.90 and a 12-month high of $14.96.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Securities Income Fund

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 12.9% during the first quarter. Bank of America Corp DE now owns 532,600 shares of the financial services provider’s stock worth $7,371,000 after purchasing an additional 60,793 shares during the last quarter. Cerity Partners LLC bought a new stake in Flaherty & Crumrine Preferred Securities Income Fund during the fourth quarter worth about $5,250,000. Ameriprise Financial Inc. lifted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 90.7% during the first quarter. Ameriprise Financial Inc. now owns 292,373 shares of the financial services provider’s stock worth $4,047,000 after purchasing an additional 139,093 shares during the last quarter. LPL Financial LLC lifted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 6.7% during the third quarter. LPL Financial LLC now owns 244,617 shares of the financial services provider’s stock worth $3,173,000 after purchasing an additional 15,444 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its stake in Flaherty & Crumrine Preferred Securities Income Fund by 12.9% during the second quarter. Osaic Holdings Inc. now owns 166,882 shares of the financial services provider’s stock worth $2,293,000 after purchasing an additional 19,012 shares during the last quarter.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

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.