Flaherty & Crumrine PREFERRED & INCOME SECURITIES FUND INC (FFC)
FFC 8-K filings in 2019
Every material Form 8-K Flaherty & Crumrine PREFERRED & INCOME SECURITIES FUND INC filed with the SEC in 2019, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
The Board of Flaherty & Crumrine Preferred Securities Income Fund approved on April 23, 2019 a name change to Flaherty & Crumrine Preferred and Income Securities Fund Incorporated, along with a revised investment policy. The fund will now invest at least 80% of its Managed Assets in preferred and other income-producing securities, instead of at least 80% of its assets in preferred securities, with the changes taking effect on or about July 5, 2019.
Board approved the name change and policy changes on April 23, 2019
Policy now requires at least 80% of Managed Assets in preferred and other income-producing securities
Managed Assets is defined to include net assets plus certain loans, debt, preferred liquidation preference and reverse repurchase proceeds
Changes take effect on or about July 5, 2019; the policy can be changed by the Board without shareholder approval
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