Wedbush Securities Inc. lowered its stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP – Free Report) by 79.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,700 shares of the company’s stock after selling 50,420 shares during the quarter. Wedbush Securities Inc.’s holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund were worth $240,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC bought a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the 4th quarter valued at $602,000. Hennion & Walsh Asset Management Inc. raised its stake 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 purchasing an additional 43,356 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Flaherty & Crumrine Dynamic Preferred and Income Fund by 19.1% in the first quarter. Janney Montgomery Scott LLC now owns 42,192 shares of the company’s stock valued at $847,000 after purchasing an additional 6,757 shares in the last quarter. Capital Analysts LLC lifted its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 6.3% during the second quarter. Capital Analysts LLC now owns 36,343 shares of the company’s stock worth $751,000 after purchasing an additional 2,149 shares during the period. Finally, Triumph Capital Management lifted its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 20.9% during the second quarter. Triumph Capital Management now owns 6,375 shares of the company’s stock worth $132,000 after purchasing an additional 1,100 shares during the period.
Flaherty & Crumrine Dynamic Preferred and Income Fund Trading Up 1.2%
Shares of Flaherty & Crumrine Dynamic Preferred and Income Fund stock opened at $18.86 on Friday. Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. has a 12-month low of $18.35 and a 12-month high of $22.05. The firm’s 50-day moving average price is $19.42 and its two-hundred day moving average price is $20.51.
Flaherty & Crumrine Dynamic Preferred and Income Fund Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.1314 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend is Friday, November 20th.
About Flaherty & Crumrine Dynamic Preferred and Income Fund
Flaherty & Crumrine Dynamic Preferred and Income Fund, Inc is a closed-end investment fund listed on the New York Stock Exchange under the symbol DFP. The fund seeks to provide current income and total return by investing primarily in preferred securities and other income-producing investments.
The fund’s portfolio may include preferred stocks, hybrid securities, corporate debt and other fixed-income instruments issued by companies in sectors such as financial services, utilities and real estate.
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