Flaherty & Crumrine Preferred and Income Securities Fund Inc
Flaherty & Crumrine Preferred and Income Securities Fund (FFC) is a type of investment vehicle known as a closed-end fund. Its primary objective is to provide shareholders with a high level of current income, whilst also aiming to preserve the initial capital invested. To achieve this, the fund invests at least 80% of its assets in a portfolio of preferred stocks and other income-generating securities. Under normal market conditions, FFC has a notable focus on the financial industry, allocating at least a quarter of its portfolio to sectors like banking, insurance, and financial services. However, it also maintains the flexibility to invest in other areas such as utilities and industrials. As a closed-end fund, it trades on an exchange like a stock, and its market price can differ from its underlying net asset value. Professional management is provided by Flaherty & Crumrine Incorporated, who specialise in preferred securities.
Stock Performance Snapshot
Dividend
Flaherty & Crumrine's dividend yield of 6.92% is appealing for investors seeking dividend income. If you invested $1000 you would be paid $69.20 a year in dividends (based on the last 12 months).
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Why You’ll Want to Watch This Stock
Focus on High Income
The fund's primary objective is to generate high current income, which may be of interest to investors seeking potential cash flow. It's important to remember that dividend payments are not guaranteed.
Concentration in Financials
With a significant portion of its portfolio in financial services, the fund's performance could reflect trends in this sector. This focus offers potential opportunities but also carries sector-specific risks.
Investing in 'Preferreds'
The fund specialises in preferred securities, a unique asset class that blends features of stocks and bonds. Understanding how these hybrids work is key for any potential investor.
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