Flaherty & Crumrine Total Return Fund (NYSE:FLC) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $16.82 and traded as high as $16.84. Flaherty & Crumrine Total Return Fund shares last traded at $16.82, with a volume of 13,943 shares.

Flaherty & Crumrine Total Return Fund Trading Down 0.2%

The firm’s 50-day moving average is $16.82 and its 200-day moving average is $17.10.

Flaherty & Crumrine Total Return Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be paid a dividend of $0.1067 per share. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Friday, October 23rd.

Institutional Investors Weigh In On Flaherty & Crumrine Total Return Fund

A number of hedge funds have recently modified their holdings of the business. Sit Investment Associates Inc. raised its holdings in Flaherty & Crumrine Total Return Fund by 6.9% in the 4th quarter. Sit Investment Associates Inc. now owns 1,039,130 shares of the company’s stock worth $18,185,000 after purchasing an additional 66,761 shares during the period. Closed End Fund Advisors Inc. bought a new stake in Flaherty & Crumrine Total Return Fund during the fourth quarter valued at about $789,000. Hennion & Walsh Asset Management Inc. increased its position in Flaherty & Crumrine Total Return Fund by 21.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 241,468 shares of the company’s stock worth $4,081,000 after buying an additional 42,263 shares in the last quarter. Fiera Capital Corp increased its position in Flaherty & Crumrine Total Return Fund by 114.4% in the fourth quarter. Fiera Capital Corp now owns 70,401 shares of the company’s stock worth $1,232,000 after buying an additional 37,558 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in Flaherty & Crumrine Total Return Fund by 71.6% in the fourth quarter. Guggenheim Capital LLC now owns 71,714 shares of the company’s stock worth $1,255,000 after buying an additional 29,927 shares in the last quarter.

About Flaherty & Crumrine Total Return Fund

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.