Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) Sees Significant Increase in Short Interest

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 10,488 shares, an increase of 269.0% from the September 15th total of 2,842 shares. Based on an average trading volume of 95,697 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Flaherty & Crumrine Dynamic Preferred and Income Fund

Several hedge funds have recently bought and sold shares of DFP. Sit Investment Associates Inc. grew its holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund by 24.3% in the 4th quarter. Sit Investment Associates Inc. now owns 445,325 shares of the company’s stock valued at $9,258,000 after buying an additional 86,981 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 24.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 218,689 shares of the company’s stock valued at $4,520,000 after buying an additional 43,356 shares in the last quarter. 1607 Capital Partners LLC increased its stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 34.6% in the fourth quarter. 1607 Capital Partners LLC now owns 107,017 shares of the company’s stock valued at $2,225,000 after buying an additional 27,517 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 397.0% in the second quarter. Wedbush Securities Inc. now owns 63,120 shares of the company’s stock valued at $1,013,000 after purchasing an additional 50,420 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund by 19.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,192 shares of the company’s stock worth $847,000 after purchasing an additional 6,757 shares during the last quarter.

Flaherty & Crumrine Dynamic Preferred and Income Fund Price Performance

Shares of DFP traded up $0.21 during trading hours on Friday, reaching $18.92. The company’s stock had a trading volume of 67,478 shares, compared to its average volume of 58,488. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 1-year low of $18.59 and a 1-year high of $22.05. The company has a 50 day moving average of $19.99 and a two-hundred day moving average of $20.40.

Flaherty & Crumrine Dynamic Preferred and Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be given a $0.1314 dividend. This represents a $1.58 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Friday, October 23rd.

Flaherty & Crumrine Dynamic Preferred and Income Fund Company Profile

Flaherty & Crumrine Dynamic Preferred and Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol DFP. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in preferred securities and other income-producing investments.

The fund uses a dynamically managed strategy that may adjust its portfolio allocation in response to market conditions, interest-rate trends and changes in credit quality.