BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) Shares Shorted: Short Interest Down 78.0% in October

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

BFC Capital Trust II PFD TR 7.20% Stock Down 1.4%

Shares of NASDAQ BANFP opened at $25.96 on Tuesday. The company has a 50 day simple moving average of $27.27 and a two-hundred day simple moving average of $26.60. BFC Capital Trust II PFD TR 7.20% has a fifty-two week low of $25.55 and a fifty-two week high of $29.75.

BFC Capital Trust II PFD TR 7.20% Announces Dividend

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in BFC Capital Trust II PFD TR 7.20% stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,586 shares of the company’s stock, valued at approximately $41,000.

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.