BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) Stock Short Interest Falls 78.0%

BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 385 shares, a decline of 78.0% from the September 30th total of 1,748 shares. Based on an average daily volume of 888 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On BFC Capital Trust II PFD TR 7.20%

An institutional investor recently bought a new stake in BFC Capital Trust II PFD TR 7.20% stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,586 shares of the company’s stock, valued at approximately $41,000.

BFC Capital Trust II PFD TR 7.20% Stock Up 0.9%

Shares of BFC Capital Trust II PFD TR 7.20% stock traded up $0.23 on Wednesday, hitting $26.17. The stock had a trading volume of 509 shares, compared to its average volume of 917. BFC Capital Trust II PFD TR 7.20% has a one year low of $25.55 and a one year high of $29.75. The stock’s 50-day simple moving average is $27.23 and its two-hundred day simple moving average is $26.60.

BFC Capital Trust II PFD TR 7.20% Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.80 annualized dividend and a dividend yield of 6.9%.

BFC Capital Trust II is a statutory business trust associated with BFC Financial Corporation and is not an operating company. The trust was established to issue trust preferred securities, including its 7.20% trust preferred securities traded under the Nasdaq symbol BANFP.

The trust’s primary purpose is to hold qualifying subordinated debt issued by its corporate sponsor and use the related interest payments to fund distributions on its preferred securities. As a result, its activities are centered on financing and administration rather than the sale of products or services.

BFC Financial Corporation has historical ties to the BankAtlantic banking organization and has operated as a financial services and investment holding company.