Flaherty & Crumrine Preferred Securities Income Fund Inc

Flaherty & Crumrine Preferred & Income Securities Fund, Inc. is a mutual fund, closed-end investment. Its objective is to provide high current income for holders of its common stock consistent with preservation of capital. The company was founded on May 23, 2002 and is headquartered in Pasadena, CA.

Ares Capital

Ares Dynamic Credit Allocation Fund

AllianceBernstein Global High Income Fund Inc

BlackRock Taxable Municipal Bond Trust

BlackRock Science & Technology

Central Securities

Calamos Convertible Opportunities And Income Fund

DNP Select Income Fund Inc

Eaton Vance Enhanced Equity Income Fund II

Energy Transfer LP Unit

Guggenheim Strategic Opportunities Fund

abrdn Healthcare Investors 

New American High Income Fund

India Fund Inc

Kayne Anderson MLP Investment

Main Street Capital

Barings Corporate Investors

Nuveen Build America Bond Fund

Annaly Capital

Nuveen Municipal High Income Opportunity Fund

PIMCO Dynamic Income Fund

Cohen And Steers Total Return Realty Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Cohen & Steers Quality Income Realty Fund

Presenting our 2022 year-end review of our 8% Income Portfolio. This high-income portfolio earned over $29,000 in distributions (including year-end special distributions) amounting to over 14% yield-on-cost basis.

The 8% Income Portfolio: 2022 Year-End Review

FFC invests in a portfolio of preferred stock and bonds in order to provide its investors with a high yield. The fund's high leverage has caused it to decline quite a lot over the past year, and it is likely to decline further as the Fed keeps raising rates.

FFC: Reasonable Investment Thesis But May Be Best To Wait Out Fed Policy

Blackrock California Muni Income Trust

Barings Global Short Duration High Yield Fund

Blackstone/GSO Senior Floating Rate Term Fund

Brandywine Global Income Opportunities Fund Inc

Eaton Vance California Municipal Income Trust

MFS Investment Grade Municipal Trust

Flaherty & Crumrine Dynamic Preferred & Income Fund

DoubleLine Income Solutions Fund

BNY Mellon Strategic Municipal Bond Fund, Inc.

Western Asset Global High Income Fund

Western Asset Emerging Markets Debt Fund

Eaton Vance Municipal Income 2028 Term Trust

Eaton Vance California Municipal Bond Fund

Flaherty & Crumrine Total Return Fund Inc

Federated Premier Municipal Income Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Highland Income Fund

Western Asset High Income Fund

Pioneer Diversified High Income Trust

Nuveen Preferred & Income Opportunities Fund

Nuveen Preferred & Income 2022 Term Fund

KKR Income Opportunities Fund

Deutsche Strategic Municipal Income Trust

BlackRock MuniYield Pennsylvania Quality Fund

Nuveen Missouri Quality Municipal Income Fund

Nuveen Pennsylvania Quality Municipal Income Fund

Oxford Lane Capital

PIMCO Dynamic Income Opportunities Fund

Pioneer High Income Trust

PIMCO Strategic Income Fund Inc

Cushing MLP & Infrastructure Total Return Fund

Invesco Pennsylvania Value Municipal Income Trust

Western Asset Diversified Income Fund

Western Asset/Claymore Inflation-Linked Securities & Income Fund

Western Asset/Claymore Inflation-Linked Opportunities & Income Fund

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY, and DxYxZ are given.

Quality Closed-End Fund Report, November 2022

FFC is the Flaherty & Crumrine Preferred Securities Income Fund, a CEF that invests mainly in investment grade preferred securities consisting of hybrid or taxable preferreds. At the time I gave FFC a Buy rating. That could not have been more wrong, as it is down over 20% since. That is about 300bps worse than stocks!

FFC: 6 Month Checkup On This Popular Preferred Stock CEF

Looking at funds with some of the deepest negative z-scores, FFC has come up. This isn't the only Flaherty & Crumrine fund sporting a deep discount now, but it is showing the largest negative 1-year z-score.

FFC: Deep Discount Appears

Western Asset Mortgage Opportunity Fund

Angel Oak Financial Strategies Income Term Trust

Nuveen Preferred & Income Term Fund

Flaherty & Crumrine Preferred Income Fund Inc

Flaherty & Crumrine Preferred Income OpportunityFund Inc

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

Invesco Senior Income Trust

We review CEF market valuation and performance through the last week of September and highlight recent market action. September was the worst month for CEFs since March of 2020, with a double-digit drop for the broader CEF space.

CEF Weekly Review: Rising Leverage Costs Remain A Headwind For Some Funds

PASADENA, Calif.--(BUSINESS WIRE)--The Boards of Directors of Flaherty & Crumrine Preferred and Income Fund Incorporated (NYSE: PFD), Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated (NYSE: PFO), Flaherty & Crumrine Preferred and Income Securities Fund Incorporated (NYSE: FFC), Flaherty & Crumrine Total Return Fund Incorporated (NYSE: FLC) and Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (NYSE: DFP) today announced that they have d

PFD, PFO, FFC, FLC and DFP Announce October and November Dividends

Boring is perfect when we're talking retirement investing.

Do Preferreds Still Deserve Preferred Status?

Flaherty & Crumrine Preferred and Income Securities Fund Incorporated and Flaherty & Crumrine/Claymore Total Return Fund are among the best in the fixed income space. We update our macro outlook on preferred shares.

FFC And FLC: Preferred Funds That Hit The Spot

PFD, PFO, FFC, FLC and DFP Announce August and September Dividends

John Hancock Preferred Income Fund

HPI is the John Hancock Preferred Income Fund, a CEF that invests mainly in convertible preferred securities, and investment grade fixed-income securities.

HPI Vs. FFC: Similar Results Despite The Differences

With the press bleating about the yield curve inverting (again!) and scaring everyone with recession talk, we dividend investors need to talk strategy.

This Fund Offers Downside Protection And A 7.8% Payout

BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund Inc

We review CEF market valuation and performance through the fourth week of February and highlight recent market action.

CEF Market Weekly Review: The Impact Of A Flatter Yield Curve On CEFs

FFC is a closed end fund focusing on bank and insurance preferred shares. FFC has extremely robust long-term returns with a moderate standard deviation.

FFC: Reliable Preferred Stock CEF With A Normalizing Premium

Flaherty & Crumrine is an outfit that has produced some exceptional funds. We have covered two of their funds previously and now we look at a third.

DFP, PFD And FFC: Where Is My Free Lunch?

AbbVie

Amgen

Clorox

Digital Realty Trust

Enbridge

Enterprise Products Partners

Fastenal

Home Depot

Johnson & Johnson

Kimberly-Clark

Lockheed Martin

McDonald's

Altria

NextEra Energy

Invesco QQQ

iShares 20+ Year Treasury Bond ETF

Texas Instruments

No portfolio or strategy can be perfect. But can there be a strategy that can work well in a bull market, a bear market, or a stagnant market, generate a decent income, and conserve capital, all at the same time? We also want our strategy to avoid roller-coaster rides of index investing, have low volatility and limited drawdowns in case of deep corrections.

The Near-Perfect Portfolio For The Bull Markets And The Bear Markets

First Trust Intermediate Duration Preferred & Income Fund

John Hancock Preferred Income Fund II

Nuveen Preferred & Income Securities Fund

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Cohen & Steers Select Preferred and Income Fund

Today, we are taking a refreshed look at the preferred closed-end fund space. We see that the entire space has become more expensive, yet at the same time, distribution yields have dropped - this is mirroring the broader CEF spaces actions.

Closed-End Funds: A Check-Up On The Preferred Space

This Closed End Fund has underperformed as we anticipated.

FFC: Preferred Share Fund Gets Cheaper After Distribution Cut

Alpine Global Dynamic Dividend Fund

Apollo Tactical Income Fund, Inc.

Alpine Total Dynamic Dividend Fund

DoubleLine Yield Opportunities Fund

Stone Harbor Emerging Markets Total Income Fund

First Trust MLP & Energy Income Fund

First Trust New Opportunities Mlp & Energy Fund

Western Asset High Income Opportunity Fund Inc

Nuveen Real Asset Income & Growth Fund

PIMCO Dynamic Credit and Mortgage Income Fund

PIMCO Income Strategy Fund

Pimco Income Opportunity Fund

Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

'High-High-Low' Closed-End Fund Report, November 2021

Bank of America

JPMorgan Chase & Co

PTA's NAV has been rising, while its share price has been declining, that's exactly what we want to see for buying opportunities.

PTA: Discount Widening, Opening Up An Opportunity

Automatic Data Processing

iShares MSCI EAFE Value ETF

iShares 1-3 Year Treasury Bond ETF

Columbia Seligman Premium Technology Growth Func Inc

abrdn World Healthcare Fund 

The Near-Perfect Portfolio For The Good Times And Bad

The preferred stock space has been richly valued for some time as the 'other' funds join Flaherty & Crumrine ("F&C") funds in premium land.

Time To Swap Finally To Flaherty Preferreds And Capture Relative Value?

A recovery in credit spreads and a drop in Treasury yields have buoyed the prices of preferred stocks and sector CEF NAVs. This has allowed preferred CEFs to increase borrowings this year which drives higher income levels and strengthens distribution coverage.

Preferreds CEF Sector Adds Borrowings To Boost Income

FFC is back in the portfolio as the opportunity presented itself as a swap from FLC. The fund currently trades at a premium, but this isn't unusual for these preferred funds.

FFC: Preferred Fund Offered From The Preferrable Fund Sponsor

BlackRock Science and Technology Trust II

Eaton Vance Short Duration Diversified Income Fund

Clough Global Equity Fund

Clough Global Dividend and Income Fund

Morgan Stanley

A total of 6 funds added this month means it was a more active month of buying than the prior.

6 Closed-End Fund Positions Added To My Portfolio In June

News for Flaherty & Crumrine Preferred Securities Income Fund Inc ETF (FFC)