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

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 18,500 shares, an increase of 23.3% from the October 15th total of 15,000 shares. Based on an average daily volume of 64,000 shares, the short-interest ratio is presently 0.3 days.

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

Several hedge funds and other institutional investors have recently made changes to their positions in DFP. Pathway Financial Advisers LLC purchased a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the first quarter worth approximately $60,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 22.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,575 shares of the company’s stock worth $126,000 after buying an additional 1,197 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the second quarter valued at about $160,000. Aviance Capital Partners LLC purchased a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the third quarter worth about $203,000. Finally, Concurrent Investment Advisors LLC boosted its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 53.2% during the second quarter. Concurrent Investment Advisors LLC now owns 15,411 shares of the company’s stock worth $296,000 after acquiring an additional 5,351 shares during the last quarter.

Flaherty & Crumrine Dynamic Preferred and Income Fund Price Performance

Shares of Flaherty & Crumrine Dynamic Preferred and Income Fund stock traded down $0.11 on Friday, hitting $20.25. The company’s stock had a trading volume of 41,555 shares, compared to its average volume of 56,090. The firm has a fifty day moving average price of $20.95 and a 200-day moving average price of $19.86. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 1 year low of $16.68 and a 1 year high of $21.73.

Flaherty & Crumrine Dynamic Preferred and Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.1151 per share. This is a positive change from Flaherty & Crumrine Dynamic Preferred and Income Fund’s previous monthly dividend of $0.11. This represents a $1.38 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend is Thursday, November 21st.

About Flaherty & Crumrine Dynamic Preferred and Income Fund

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.