Sit Investment Associates Inc. Buys 66,761 Shares of Flaherty & Crumrine Total Return Fund Inc. $FLC

Sit Investment Associates Inc. raised its stake in Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) by 6.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,039,130 shares of the company’s stock after acquiring an additional 66,761 shares during the quarter. Sit Investment Associates Inc.’s holdings in Flaherty & Crumrine Total Return Fund were worth $18,185,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Flaherty & Crumrine Total Return Fund in the fourth quarter valued at approximately $57,000. Cetera Investment Advisers bought a new position in shares of Flaherty & Crumrine Total Return Fund during the 2nd quarter worth approximately $199,000. Kovack Advisors Inc. bought a new position in shares of Flaherty & Crumrine Total Return Fund during the 4th quarter worth approximately $226,000. Seven Mile Advisory bought a new position in shares of Flaherty & Crumrine Total Return Fund during the 3rd quarter worth approximately $230,000. Finally, Wedbush Securities Inc. boosted its stake in shares of Flaherty & Crumrine Total Return Fund by 50.5% during the 3rd quarter. Wedbush Securities Inc. now owns 15,050 shares of the company’s stock worth $268,000 after acquiring an additional 5,050 shares during the period.

Flaherty & Crumrine Total Return Fund Trading Down 0.1%

Shares of NYSE FLC opened at $16.72 on Friday. Flaherty & Crumrine Total Return Fund Inc. has a 12 month low of $15.89 and a 12 month high of $18.09. The stock has a 50 day moving average of $16.94 and a 200-day moving average of $17.27.

Flaherty & Crumrine Total Return Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be issued a dividend of $0.1047 per share. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, July 24th.

Flaherty & Crumrine Total Return Fund Profile

Flaherty & Crumrine Total Return Fund Inc (NYSE: FLC) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund principally invests in preferred and other hybrid securities issued by financial services companies, including banks, insurance firms and real estate investment trusts. Listed on the New York Stock Exchange, FLC employs a diversified portfolio approach to access the preferred securities market and generate an attractive income stream for shareholders.

The fund’s investment strategy emphasizes preferred stocks, with at least 65% of its managed assets directed toward these instruments.