Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) Short Interest Up 142.0% in September

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 28,800 shares, an increase of 142.0% from the August 31st total of 11,900 shares. Based on an average trading volume of 58,900 shares, the days-to-cover ratio is currently 0.5 days.

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

Several large investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund by 7.3% during the 2nd quarter. Raymond James & Associates now owns 732,041 shares of the company’s stock worth $14,055,000 after purchasing an additional 49,598 shares in the last quarter. Relative Value Partners Group LLC purchased a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the 4th quarter worth about $4,855,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 5.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 86,851 shares of the company’s stock valued at $1,665,000 after purchasing an additional 4,686 shares during the last quarter. Shaker Financial Services LLC raised its stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 0.8% during the second quarter. Shaker Financial Services LLC now owns 79,008 shares of the company’s stock worth $1,517,000 after acquiring an additional 629 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 5.0% during the 2nd quarter. Private Advisor Group LLC now owns 45,937 shares of the company’s stock valued at $882,000 after purchasing an additional 2,191 shares during the last quarter.

Flaherty & Crumrine Dynamic Preferred and Income Fund Price Performance

Shares of DFP opened at $21.52 on Friday. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 52 week low of $15.45 and a 52 week high of $21.73. The stock has a 50 day moving average price of $20.27 and a two-hundred day moving average price of $19.31.

Flaherty & Crumrine Dynamic Preferred and Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 24th will be paid a $0.1122 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This is a positive change from Flaherty & Crumrine Dynamic Preferred and Income Fund’s previous monthly dividend of $0.11. This represents a $1.35 annualized dividend and a dividend yield of 6.26%.

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.