Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) Short Interest Update

by · The Cerbat Gem

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP – Get Free Report) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 28,800 shares, a growth of 142.0% from the August 31st total of 11,900 shares. Based on an average daily volume of 58,900 shares, the days-to-cover ratio is currently 0.5 days.

Flaherty & Crumrine Dynamic Preferred and Income Fund Price Performance

Shares of Flaherty & Crumrine Dynamic Preferred and Income Fund stock opened at $21.52 on Friday. The company’s fifty day simple moving average is $20.27 and its two-hundred day simple moving average is $19.31. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 12-month low of $15.45 and a 12-month high of $21.73.

Flaherty & Crumrine Dynamic Preferred and Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 24th will be issued a dividend of $0.1122 per share. This is an increase from Flaherty & Crumrine Dynamic Preferred and Income Fund’s previous monthly dividend of $0.11. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.26%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Relative Value Partners Group LLC purchased a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund in the 4th quarter worth approximately $4,855,000. Raymond James & Associates lifted its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 7.3% during the second quarter. Raymond James & Associates now owns 732,041 shares of the company’s stock valued at $14,055,000 after purchasing an additional 49,598 shares in the last quarter. Flow State Investments L.P. purchased a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the fourth quarter valued at $466,000. International Assets Investment Management LLC bought a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund during the second quarter valued at approximately $160,000. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 53.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 15,411 shares of the company’s stock worth $296,000 after purchasing an additional 5,351 shares during the period.

About Flaherty & Crumrine Dynamic Preferred and Income Fund

(Get Free Report)

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc is a closed ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets across the globe. It seeks to invest in stocks of companies operating across diversified sectors.

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