Wedbush Securities Inc. Increases Stock Position in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. $DFP

Wedbush Securities Inc. boosted its position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) by 397.0% in the second quarter, Holdings Channel.com reports. The firm owned 63,120 shares of the company’s stock after acquiring an additional 50,420 shares during the period. Wedbush Securities Inc.’s holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund were worth $1,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. grew its holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund by 18.3% during the 3rd quarter. Raymond James Financial Inc. now owns 1,281,510 shares of the company’s stock worth $27,732,000 after acquiring an additional 198,497 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the 4th quarter valued at about $3,093,000. Sit Investment Associates Inc. raised its stake 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 valued at $9,258,000 after purchasing an additional 86,981 shares in the last quarter. 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. Finally, Closed End Fund Advisors Inc. bought a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the fourth quarter worth about $936,000.

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

NYSE:DFP opened at $20.53 on Tuesday. Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. has a one year low of $19.56 and a one year high of $22.11. The stock has a 50-day simple moving average of $20.73 and a 200 day simple moving average of $20.79.

Flaherty & Crumrine Dynamic Preferred and Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be issued a dividend of $0.1314 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Friday, October 23rd.

About Flaherty & Crumrine Dynamic Preferred and Income Fund

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.