Flah&Crum Preferred Securities:FFC

    Manage Alerts

    Overview

    As of 11/22/2024

     Share
    Price
    NAVPremium/
    Discount
    Current$15.49$17.17-9.78%
    52 Wk Avg$14.85$16.45-9.80%
    52 Wk High$16.74$17.53-4.19%
    52 Wk Low$13.36$14.97-13.56%
    Regular Distribution TypeIncome Only
    Distribution Rate7.13%
    Distribution Amount$0.0920
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund’s investment objective is to provide its common shareholders with high current income consistent with preservation of capital. Under normal market conditions, the Fund invests at least 80% of its Managed Assets in a portfolio of preferred and other income-producing securities. The Fund will invest, under normal market conditions, at least 25% of its total assets in the financials sector.

    Capital Structure

    As of 11/22/2024

    Total Investment Exposure:$1,329.214M
    Total Common Assets:$827.214M
    Common Shares Outstanding:48,177,896
    Leverage

    As of 11/22/2024

    Preferred Share Assets:
    Total Debt (USD): $502.000M
    Regulatory Leverage (USD): $502.000M
    Effective Leverage (USD): $502.000M
    Effective Leverage (%): 37.77%
    Annual Expense Ratios

    As of 11/30/2023

      Per Common Share
    Management Fees0.72%
    Other Expenses:0.26%
    Baseline Expense: N/A
    Interest Expense:3.97%
    Total: 4.95%
    Fund Management

    Fund Sponsor
    Flaherty & Crumrine

    Portfolio Managers
    Bradford S. Stone, R. Eric Chadwick

    Basics
    Category: Fixed Income - Taxable-Preferreds
    Ticker: FFC
    NAV Ticker: XFFCX
    Average Daily Volume (shares): 140,603
    Average Daily Volume (USD): $2.084M
    Inception Date: 1/31/2003
    Inception Share Price: $25.00
    Inception NAV: $23.83
    Tender Offer: No
    Term: No
    Fiscal Year End: November 30
    Third Party Links & Reports

    Distributions

    As of 11/22/2024

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 5/31/2024
    $0.5058
    Annualized Distribution Rate on NAV:
    As of 11/22/2024
    6.43%
    Total Return on NAV (12 months):
    As of 11/22/2024
    29.05%
    Avg. Portfolio Coupon:
    As of 11/22/2024
    7.23%
    Total % Portfolio Effectively Leveraged:
    As of 11/22/2024
    37.77%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 11/22/2024

    PeriodAvg Discount
    6 Month-8.73%
    1 Year-9.80%
    3 Year-5.58%
    5 Year-0.47%
    Z-Score

    As of 11/22/2024

    PeriodZStat
    3 Month-2.29
    6 Month-0.45
    1 Year0.01
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 10/31/2024
    Category: Morningstar US CEF Preferreds

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD21.50%14.69%22.58%14.59%
    2023-0.23%7.19%3.41%7.07%
    2022-25.09%-18.82%-22.47%-15.85%
    2021-0.49%8.38%8.08%8.68%
    202016.40%9.19%4.66%3.39%
    201938.97%25.74%34.61%24.84%
    2018-11.88%-7.03%-10.75%-7.07%
    201716.95%17.18%15.74%14.49%
    20162.12%8.15%12.97%6.81%
    201514.51%3.61%7.23%5.58%
    201418.49%19.04%18.73%17.64%
    2013-2.04%4.24%-4.38%2.61%
    201223.30%28.73%20.08%24.89%
    201118.93%9.82%  
    201027.80%28.62%  
    2009108.53%81.29%  
    2008-44.81%-46.15%  
    2007-18.36%-14.14%  
    200619.67%8.65%  
    2005-19.17%1.68%  
    20046.51%6.15%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 10/31/2024
    Category: Morningstar US CEF Preferreds

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 11/22/2024
    7.23%
    Number of Holdings:
    As of 8/31/2024
    245
    Annual Portfolio Turnover:
    As of 11/30/2023
    9.00%
    Average Bond Price:
    As of 8/31/2024
    $102.33
    Asset Allocation

    As of 8/31/2024

    Top Sectors

    As of 8/31/2024

    Sector%Portfolio
    Corporate (Super Sector)94.01%
    Preferred Stock52.54%
    Corporate Bond39.42%
    Convertible2.05%
    Cash Equivalents (Super Sector)1.35%
    Cash Equivalents1.35%
    Financial Services1.01%
    Cyclical (Super Sector)1.01%
    Top Holdings

    As of 8/31/2024

    HoldingValue% Portfolio
    Banco Santander SA FXDFR PFS PERPETUAL USD 200000$28.53M2.18%
    Provident Financing Trust I 7.405%$28.46M2.18%
    Comerica Incorporated 5.625%$26.84M2.06%
    Liberty Mutual Group, Inc. 7.8%$26.77M2.05%
    Fifth Third Bancorp Deposit Shs Repr 1/1000th Non-Cum Perp Pfd Shs Series -$26.14M2.00%
    MetLife Inc. 10.75%$21.79M1.67%
    MetLife Inc. 9.25%$21.50M1.65%
    Flagstar Financial Inc Non-Cum Perp Pfd Shs Series -A-$20.42M1.56%
    Delphi Financial Group, Inc. 8.5697%$19.44M1.49%
    Liberty Mutual Insurance Co. 7.697%$16.03M1.23%
    Credit Quality

    As of 8/31/2024

    Maturity Breakdown

    As of 8/31/2024

    Country Allocation

    As of 8/31/2024

    Country% Portfolio
    United States - Fixed Income19.42%
    Canada - Fixed Income6.66%
    France - Fixed Income6.25%
    United Kingdom - Fixed Income5.37%
    Spain - Fixed Income1.61%
    Ireland - Fixed Income1.52%
    United States - Equity1.01%
    Mexico - Fixed Income0.87%
    Netherlands - Fixed Income0.46%
    Australia - Fixed Income0.44%
    Switzerland - Fixed Income0.34%
    Germany - Fixed Income0.12%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    E-2949862P-E0623W