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

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 96,282 shares, a growth of 22.6% from the February 26th total of 78,528 shares. Based on an average daily volume of 43,578 shares, the short-interest ratio is presently 2.2 days.

Flaherty & Crumrine Dynamic Preferred and Income Fund Stock Performance

NYSE:DFP traded down $0.19 on Monday, hitting $19.57. The stock had a trading volume of 92,673 shares, compared to its average volume of 52,990. The company has a fifty day moving average price of $21.24 and a two-hundred day moving average price of $21.31. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 1-year low of $18.20 and a 1-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 Thursday, April 30th. Investors 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 7.8%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. boosted its stake in Flaherty & Crumrine Dynamic Preferred and Income Fund by 18.3% during the third quarter. Raymond James Financial Inc. now owns 1,281,510 shares of the company’s stock worth $27,732,000 after buying an additional 198,497 shares during the period. Focus Partners Wealth purchased a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the 4th quarter valued at approximately $3,093,000. Sit Investment Associates Inc. raised its stake 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 valued at $9,258,000 after acquiring an additional 86,981 shares during the period. 1607 Capital Partners LLC acquired a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the 3rd quarter worth approximately $1,720,000. Finally, Fiera Capital Corp purchased a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the 3rd quarter worth approximately $1,167,000.

Flaherty & Crumrine Dynamic Preferred and Income Fund Company 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.