BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) Shares Shorted: Short Interest Down 78.0% in October

BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 385 shares, a decline of 78.0% from the September 30th total of 1,748 shares. Based on an average daily volume of 888 shares, the short-interest ratio is currently 0.4 days.

BFC Capital Trust II PFD TR 7.20% Stock Down 1.4%

BANFP opened at $25.96 on Tuesday. BFC Capital Trust II PFD TR 7.20% has a one year low of $25.55 and a one year high of $29.75. The business has a 50 day simple moving average of $27.27 and a two-hundred day simple moving average of $26.60.

BFC Capital Trust II PFD TR 7.20% Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Wednesday, September 30th.

Hedge Funds Weigh In On BFC Capital Trust II PFD TR 7.20%

A hedge fund recently bought a new position in BFC Capital Trust II PFD TR 7.20% stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,586 shares of the company’s stock, valued at approximately $41,000.

BFC Capital Trust II is a statutory business trust associated with BFC Financial Corporation and is not an operating company. The trust was established to issue trust preferred securities, including its 7.20% trust preferred securities traded under the Nasdaq symbol BANFP.

The trust’s primary purpose is to hold qualifying subordinated debt issued by its corporate sponsor and use the related interest payments to fund distributions on its preferred securities. As a result, its activities are centered on financing and administration rather than the sale of products or services.

BFC Financial Corporation has historical ties to the BankAtlantic banking organization and has operated as a financial services and investment holding company.