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FFC

Flaherty & Crumrine Preferred and Income Securities Fund

FFC

Market cap $780M

69 hedge funds and large institutions have $109M invested in Flaherty & Crumrine Preferred and Income Securities Fund in 2016 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 24 increasing their positions, 19 reducing their positions, and 9 closing their positions.

New

Increased

Maintained

Reduced

Closed

26% more repeat investments, than reductions

Existing positions increased: 24 | Existing positions reduced: 19

4% more capital invested

Capital invested by funds: $104M → $109M (+$4.58M)

0.23% less ownership

Funds ownership: 11.73% → 11.5% (-0.23%)

5% less funds holding

Funds holding: 73 → 69 (-4)

44% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 9

Holders

Holders Change

-4

Holders Change %

-5.48%

% of All Funds

1.84%

Holding in Top 10

–

Holding in Top 10 Change

–

Holding in Top 10 Change %

–

% of All Funds

–

New

Increased

Reduced

Closed

Calls

–

Puts

–

Net Calls

–

Net Calls Change

–

Top Buyers

1	NPC National Planning Corporation El Segundo, California	+$2.97M
2	Commonwealth Equity Services Waltham, Massachusetts	+$496K
3	CCM Covington Capital Management Los Angeles, California	+$492K
4	IH IFC Holdings Tampa, Florida	+$398K
5	TIA Tiemann Investment Advisors Menlo Park, California	+$353K

Top Sellers

1	OA Oxbow Advisors Austin, Texas	-$2.62M
2	LPL Financial San Diego, California	-$1.49M
3	Bank of America Charlotte, North Carolina	-$1.38M
4	AIG American International Group New York	-$1.29M
5	Cohen & Steers New York	-$960K

#	Name	Holding	Trade Value	Shares Change	Change in Stake
26	BTS 26 BB&T Securities Richmond, Virginia	$1.06M	+$78.9K	+3,786	+8%
27	27 HighTower Advisors Chicago, Illinois	$951K	+$6.63K	+318	+0.7%
28	28 Cambridge Investment Research Advisors Fairfield, Iowa	$866K	-$78.8K	-3,784	-9%
29	BA 29 Bard Associates Chicago, Illinois	$793K	+$1.04K	+50	+0.1%
30	RJA 30 Raymond James & Associates St Petersburg, Florida	$768K	+$28.9K	+1,385	+4%
31	ICAS 31 Investors Capital Advisory Services Lynnfield, Massachusetts	$585K	-$21.6K	-1,035	-4%
32	OC 32 Oppenheimer & Co New York	$554K	+$5.31K	+255	+1%
33	BAM 33 Bruderman Asset Management Locust Valley, New York	$491K	-$19.5K	-937	-4%
34	34 PNC Financial Services Group Pittsburgh, Pennsylvania	$491K	-$8.33K	-400	-2%
35	SPC 35 Sigma Planning Corp Ann Arbor, Michigan	$382K	+$28.3K	+1,359	+8%
36	IA 36 IFP Advisors Tampa, Florida	$372K	+$341K	+16,379	+2,047%
37	GWM 37 Geneos Wealth Management Englewood, Colorado	$361K	+$22.4K	+1,076	+7%
38	CA 38 Cetera Advisors Denver, Colorado	$330K	-$104K	-5,000	-25%
39	SIA 39 Sit Investment Associates Minneapolis, Minnesota	$325K	–	–	–
40	40 Bank of New York Mellon New York	$302K	+$290K	+13,939	New
41	41 Creative Planning Overland Park, Kansas	$247K	+$23K	+1,102	+11%
42	CWM 42 Concert Wealth Management San Jose, California	$238K	–	–	–
43	ASN 43 Advisory Services Network Atlanta, Georgia	$229K	-$97.8K	-4,695	-31%
44	44 US Bancorp Minneapolis, Minnesota	$221K	–	–	–
45	VFS 45 VSR Financial Services Overland Park, Kansas	$217K	–	–	–
46	WA 46 WFG Advisors Dallas, Texas	$200K	+$3.58K	+172	+2%
47	47 Northwestern Mutual Wealth Management Milwaukee, Wisconsin	$158K	–	–	–
48	SF 48 Synovus Financial Columbus, Georgia	$152K	–	–	–
49	WP 49 WealthPLAN Partners Omaha, Nebraska	$145K	+$279K	+13,414	New
50	WT 50 Whittier Trust South Pasadena, California	$115K	–	–	–

FFC Hedge Fund Activity: Q2 2016 in Review

69 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Preferred and Income Securities Fund (FFC) for Q2 2016, worth a combined $109M — up 4.4% from $104M a quarter earlier.

Sellers outnumbered buyers: 9 funds closed out of FFC and 5 opened new positions — a net loss of 4 holders — while 19 trimmed existing stakes and 24 added.

The largest buyer was National Planning Corporation, adding an estimated $2.97M. The largest seller was Oxbow Advisors, cutting an estimated $2.62M.

69 institutional investors held Flaherty & Crumrine Preferred and Income Securities Fund (FFC) as of Q2 2016, down from 73 in Q1 2016.
Funds reported $109M of Flaherty & Crumrine Preferred and Income Securities Fund stock for Q2 2016, up 4.4% quarter-over-quarter.
5 funds opened new Flaherty & Crumrine Preferred and Income Securities Fund positions in Q2 2016 and 9 closed out, a net change of -4 holders.
The largest Flaherty & Crumrine Preferred and Income Securities Fund buyer in Q2 2016 was National Planning Corporation, an estimated $2.97M added.
The largest Flaherty & Crumrine Preferred and Income Securities Fund seller in Q2 2016 was Oxbow Advisors, an estimated $2.62M sold.

Based on aggregated 13F filings for Q2 2016.

Flaherty & Crumrine Preferred and Income Securities Fund FFC Market cap $780M