FLC - FFC: Attractive 6.82% Distribution Yield From This Preferred Fund

• FFC is running a bit overvalued at this time; however, it is the same for its peer funds as well.
• Preferred securities can be an excellent place to put some capital to work that is more conservative than equity securities.
• Interest rates can put on short-term pressures, over the longer run though, this will help normalize income down the road.
• For FFC, they also hold plenty of fixed-rate preferred that subsequently turns to floating (i.e. fixed-to-floating securities.).

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