Hennion & Walsh Asset Management Inc. Raises Position in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. $DFP

Hennion & Walsh Asset Management Inc. increased its stake in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) by 29.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 158,315 shares of the company’s stock after purchasing an additional 36,304 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund were worth $3,291,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Samalin Investment Counsel LLC lifted its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 1.3% during the 3rd quarter. Samalin Investment Counsel LLC now owns 45,675 shares of the company’s stock worth $988,000 after acquiring an additional 604 shares in the last quarter. Smith Asset Management Co. LLC grew its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 1.0% in the third quarter. Smith Asset Management Co. LLC now owns 101,043 shares of the company’s stock valued at $2,187,000 after acquiring an additional 954 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 3.0% during the second quarter. NewEdge Advisors LLC now owns 35,820 shares of the company’s stock valued at $735,000 after purchasing an additional 1,048 shares during the period. Cetera Investment Advisers raised its stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 6.7% during the second quarter. Cetera Investment Advisers now owns 22,151 shares of the company’s stock valued at $455,000 after purchasing an additional 1,398 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 4.5% during the third quarter. Private Advisor Group LLC now owns 38,375 shares of the company’s stock worth $830,000 after purchasing an additional 1,663 shares in the last quarter.

Flaherty & Crumrine Dynamic Preferred and Income Fund Stock Performance

Shares of DFP stock opened at $20.09 on Wednesday. The firm has a fifty day simple moving average of $21.22 and a 200-day simple moving average of $21.30. Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. has a twelve month low of $18.20 and a twelve month high of $22.11.

Flaherty & Crumrine Dynamic Preferred and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be issued a $0.127 dividend. The ex-dividend date is Thursday, April 23rd. This represents a c) dividend on an annualized basis and a yield of 7.6%.

Flaherty & Crumrine Dynamic Preferred and Income Fund Profile

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.