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FFC

Flaherty & Crumrine Preferred and Income Securities Fund
FFC

73 hedge funds and large institutions have $104M invested in Flaherty & Crumrine Preferred and Income Securities Fund in 2016 Q1 according to their latest regulatory filings, with 2 funds opening new positions, 23 increasing their positions, 22 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

5% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 22

0.39% less ownership

Funds ownership: 12.12% → 11.73% (-0.39%)

2% less capital invested

Capital invested by funds: $106M → $104M (-$1.79M)

5% less funds holding

Funds holding: 77 → 73 (-4)

67% less first-time investments, than exits

New positions opened: 2 | Existing positions closed: 6

Holders
73
Holders Change
-4
Holders Change %
-5.19%
% of All Funds
1.95%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
2
Increased
23
Reduced
22
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
PAG
Private Advisor Group
New Jersey
+$1.22M
2
LPL Financial
LPL Financial
California
+$1.15M
3
HighTower Advisors
HighTower Advisors
Illinois
+$609K
4
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
+$441K
5
RJA
Raymond James & Associates
Florida
+$336K

Top Sellers

1
Morgan Stanley
Morgan Stanley
New York
-$3.4M
2
Invesco
Invesco
Georgia
-$1.15M
3
GC
Guggenheim Capital
Illinois
-$742K
4
UBS Group
UBS Group
Switzerland
-$659K
5
NL
NWAM LLC
Washington
-$543K
Name Holding Trade Value Shares
Change 		Change in
Stake
TIA
26
Tiemann Investment Advisors
California
$914K – – –
Cambridge Investment Research Advisors
27
Cambridge Investment Research Advisors
Iowa
$891K +$118K +5,967 +16%
HighTower Advisors
28
HighTower Advisors
Illinois
$885K +$609K +30,800 +242%
BA
29
Bard Associates
Illinois
$744K -$7.9K -400 -1%
RJA
30
Raymond James & Associates
Florida
$693K +$336K +16,993 +100%
ICAS
31
Investors Capital Advisory Services
Massachusetts
$571K +$22.7K +1,150 +4%
WA1
32
Wimmer Associates 1
California
$554K – – –
OC
33
Oppenheimer & Co
New York
$515K +$5.12K +259 +1%
BAM
34
Bruderman Asset Management
New York
$481K +$94.2K +4,766 +25%
PNC Financial Services Group
35
PNC Financial Services Group
Pennsylvania
$469K – – –
CA
36
Cetera Advisors
Colorado
$408K -$15.7K -793 -4%
SPC
37
Sigma Planning Corp
Michigan
$332K -$89K -4,505 -22%
GWM
38
Geneos Wealth Management
Colorado
$315K +$308K +15,570 New
ASN
39
Advisory Services Network
Georgia
$310K +$3.67K +186 +1%
SIA
40
Sit Investment Associates
Minnesota
$305K – – –
CWM
41
Concert Wealth Management
California
$224K – – –
Creative Planning
42
Creative Planning
Kansas
$209K +$74.2K +3,753 +57%
US Bancorp
43
US Bancorp
Minnesota
$207K – – –
NEPWA
44
New England Private Wealth Advisors
Massachusetts
$204K – – –
VFS
45
VSR Financial Services
Kansas
$204K – – –
MBT
46
Montecito Bank & Trust
California
$201K +$195K +9,865 New
WA
47
WFG Advisors
Texas
$185K -$85.6K -4,332 -32%
Northwestern Mutual Wealth Management
48
Northwestern Mutual Wealth Management
Wisconsin
$148K – – –
SF
49
Synovus Financial
Georgia
$144K +$13.1K +664 +10%
WT
50
Whittier Trust
California
$108K – – –
1
2
3 4

FFC Hedge Fund Activity: Q1 2016 in Review

73 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Preferred and Income Securities Fund (FFC) for Q1 2016, worth a combined $104M — down 1.7% from $106M a quarter earlier.

Sellers outnumbered buyers: 6 funds closed out of FFC and 2 opened new positions — a net loss of 4 holders — while 22 trimmed existing stakes and 23 added.

The largest buyer was Private Advisor Group, adding an estimated $1.22M. The largest seller was Morgan Stanley, cutting an estimated $3.4M.

  • 73 institutional investors held Flaherty & Crumrine Preferred and Income Securities Fund (FFC) as of Q1 2016, down from 77 in Q4 2015.
  • Funds reported $104M of Flaherty & Crumrine Preferred and Income Securities Fund stock for Q1 2016, down 1.7% quarter-over-quarter.
  • 2 funds opened new Flaherty & Crumrine Preferred and Income Securities Fund positions in Q1 2016 and 6 closed out, a net change of -4 holders.
  • The largest Flaherty & Crumrine Preferred and Income Securities Fund buyer in Q1 2016 was Private Advisor Group, an estimated $1.22M added.
  • The largest Flaherty & Crumrine Preferred and Income Securities Fund seller in Q1 2016 was Morgan Stanley, an estimated $3.4M sold.

Based on aggregated 13F filings for Q1 2016.