Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (DFP) to Issue Monthly Dividend of $0.13 on August 31st

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) announced a monthly dividend on Wednesday, July 22nd. Shareholders of record on Monday, August 24th will be paid a dividend of 0.1314 per share on Monday, August 31st. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Monday, August 24th. This is a 1.5% increase from Flaherty & Crumrine Dynamic Preferred and Income Fund’s previous monthly dividend of $0.13.

Flaherty & Crumrine Dynamic Preferred and Income Fund Trading Down 0.1%

DFP opened at $20.77 on Friday. The firm’s 50 day moving average is $20.71 and its 200-day moving average is $20.84. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 52-week low of $19.56 and a 52-week high of $22.11.

Hedge Funds Weigh In On Flaherty & Crumrine Dynamic Preferred and Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DFP. Raymond James Financial Inc. boosted its holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund by 18.3% in the third quarter. Raymond James Financial Inc. now owns 1,281,510 shares of the company’s stock valued at $27,732,000 after purchasing an additional 198,497 shares during the last quarter. Focus Partners Wealth bought a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund during the 4th quarter valued at $3,093,000. Sit Investment Associates Inc. increased its position 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 worth $9,258,000 after purchasing an additional 86,981 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 397.0% in the 2nd quarter. Wedbush Securities Inc. now owns 63,120 shares of the company’s stock valued at $1,013,000 after purchasing an additional 50,420 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 88.4% during the fourth quarter. Fiera Capital Corp now owns 101,601 shares of the company’s stock worth $2,112,000 after purchasing an additional 47,670 shares during the last quarter.

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.