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

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 10,488 shares, a drop of 43.1% from the May 14th total of 18,437 shares. Based on an average daily volume of 65,433 shares, the days-to-cover ratio is presently 0.2 days.

Flaherty & Crumrine Dynamic Preferred and Income Fund Stock Performance

Shares of DFP stock traded up $0.18 during trading hours on Monday, reaching $20.43. The company had a trading volume of 67,907 shares, compared to its average volume of 55,665. The business has a fifty day moving average price of $20.66 and a 200-day moving average price of $20.95. Flaherty & Crumrine Dynamic Preferred and Income Fund has a one year low of $19.56 and a one year high of $22.11.

Flaherty & Crumrine Dynamic Preferred and Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be issued a $0.1295 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%.

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

Large investors have recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund during the third quarter valued at approximately $92,000. AdvisorNet Financial Inc lifted its holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund by 24.0% during the first quarter. AdvisorNet Financial Inc now owns 5,272 shares of the company’s stock valued at $106,000 after purchasing an additional 1,022 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund during the fourth quarter valued at approximately $141,000. Kestra Advisory Services LLC purchased a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund during the fourth quarter valued at approximately $158,000. Finally, Stance Capital LLC purchased a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund during the third quarter valued at approximately $182,000.

About Flaherty & Crumrine Dynamic Preferred and Income Fund

Flaherty & Crumrine Dynamic Preferred and Income Fund (NYSE: DFP) is a closed-end management investment company that seeks to provide current income and total return primarily through investments in preferred securities. The fund pursues a dynamic approach, adjusting portfolio duration and credit exposure in response to changing market conditions in order to enhance yield and manage risk. Its flexible mandate also allows allocations to common stocks, convertible securities and select debt instruments when opportunistic.

DFP’s portfolio generally comprises U.S.