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) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 18,736 shares, a growth of 183.7% from the June 15th total of 6,605 shares. Based on an average daily volume of 48,303 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Flaherty & Crumrine Dynamic Preferred and Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. lifted its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 18.3% in the 3rd quarter. Raymond James Financial Inc. now owns 1,281,510 shares of the company’s stock valued at $27,732,000 after acquiring an additional 198,497 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in shares of 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 worth $9,258,000 after purchasing an additional 86,981 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 4.6% in the 3rd quarter. Invesco Ltd. now owns 324,801 shares of the company’s stock worth $7,029,000 after purchasing an additional 14,421 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of 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 worth $4,520,000 after purchasing an additional 43,356 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the fourth quarter worth $3,093,000.

Flaherty & Crumrine Dynamic Preferred and Income Fund Stock Up 0.2%

NYSE:DFP traded up $0.04 on Monday, reaching $20.81. 98,551 shares of the stock traded hands, compared to its average volume of 54,224. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 12 month low of $19.56 and a 12 month high of $22.11. The company’s fifty day simple moving average is $20.55 and its 200 day simple moving average is $20.89.

Flaherty & Crumrine Dynamic Preferred and Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be issued a dividend of $0.1295 per share. The ex-dividend date is Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%.

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.