Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) Short Interest Up 23.3% in October

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 18,500 shares, an increase of 23.3% from the October 15th total of 15,000 shares. Based on an average daily volume of 64,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Shaker Financial Services LLC lifted its position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 0.8% during the 2nd quarter. Shaker Financial Services LLC now owns 79,008 shares of the company’s stock worth $1,517,000 after buying an additional 629 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 6.0% during the third quarter. Concurrent Investment Advisors LLC now owns 16,332 shares of the company’s stock worth $351,000 after acquiring an additional 921 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 22.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,575 shares of the company’s stock valued at $126,000 after purchasing an additional 1,197 shares during the period. Wedbush Securities Inc. boosted its stake in Flaherty & Crumrine Dynamic Preferred and Income Fund by 12.8% in the second quarter. Wedbush Securities Inc. now owns 18,450 shares of the company’s stock valued at $354,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in Flaherty & Crumrine Dynamic Preferred and Income Fund by 5.0% in the second quarter. Private Advisor Group LLC now owns 45,937 shares of the company’s stock valued at $882,000 after buying an additional 2,191 shares during the period.

Flaherty & Crumrine Dynamic Preferred and Income Fund Stock Performance

DFP traded down $0.11 on Friday, reaching $20.25. 41,555 shares of the company traded hands, compared to its average volume of 56,090. The stock’s 50 day moving average price is $20.95 and its 200-day moving average price is $19.86. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 52-week low of $16.68 and a 52-week high of $21.73.

Flaherty & Crumrine Dynamic Preferred and Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be given a $0.1151 dividend. This is an increase from Flaherty & Crumrine Dynamic Preferred and Income Fund’s previous monthly dividend of $0.11. This represents a $1.38 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend is Thursday, November 21st.

Flaherty & Crumrine Dynamic Preferred and Income Fund Company Profile

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.