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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
PSUF
51
People's United Financial
Connecticut
$101K – – –
Bank of Montreal
52
Bank of Montreal
Ontario, Canada
$94K – – –
WEC
53
Winslow Evans & Crocker
Massachusetts
$89.7K – – –
AAM
54
Advisors Asset Management
Colorado
$87K -$2.53K -128 -3%
CAPTRUST Financial Advisors
55
CAPTRUST Financial Advisors
North Carolina
$80K +$32.5K +1,647 +73%
TFA
56
Transamerica Financial Advisors
Florida
$74K +$61.7K +3,123 +625%
MFS
57
MSI Financial Services
Massachusetts
$64K +$533 +27 +0.9%
NSIM
58
North Star Investment Management
Illinois
$43K – – –
LWM
59
Lenox Wealth Management
Ohio
$40K – – –
DADC
60
D.A. Davidson & Co
Montana
$26K – – –
Citigroup
61
Citigroup
New York
$25K – – –
FAM
62
Formidable Asset Management
Ohio
$22K – – –
SIG
63
Stanford Investment Group
California
$21K – – –
NFG
64
Next Financial Group
Texas
$18K – – –
CFA
65
Carroll Financial Associates
North Carolina
$16K – – –
IA
66
IFP Advisors
Florida
$15K -$195K -9,886 -93%
WTB
67
Washington Trust Bank
Washington
$13K +$7.9K +400 +160%
DBT
68
Dubuque Bank & Trust
Iowa
$11K – – –
JIC
69
Joel Isaacson & Co
New York
$9K – – –
AWM
70
Avior Wealth Management
Nebraska
$8K – – –
OSNBOA
71
Old Second National Bank of Aurora
Illinois
$3K -$6.92K -350 -70%
Deutsche Bank
72
Deutsche Bank
Germany
$2K – – –
PCM
73
Penserra Capital Management
California
$9 -$948 -48 -9%
CIA
74
Capital Investment Advisors
Georgia
– -$381K -18,996 Closed
SBIA
75
Sheaff Brock Investment Advisors
Indiana
– -$213K -10,620 Closed
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.