Raymond James & Associates Increases Stake in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.

During the third quarter, Raymond James & Associates increased its shareholding in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE: DFP – Free Report) by 1.9%, as revealed in the latest 13F filing with the Securities and Exchange Commission. The firm now owns a total of 745,709 shares in the company following the purchase of an additional 13,668 shares during this period. According to the most recent filing, Raymond James & Associates holds shares valued at approximately $16,033,000.

In addition to Raymond James, several other major investors have recently adjusted their positions in Flaherty & Crumrine Dynamic Preferred and Income Fund. Northwestern Mutual Wealth Management Co. raised its stake by 22.3% in the second quarter, acquiring an extra 1,197 shares to bring its total to 6,575 shares valued at $126,000. Similarly, Wedbush Securities Inc. boosted its holdings by 12.8%, now owning 18,450 shares worth about $354,000 after adding 2,100 shares.

Private Advisor Group LLC also increased its stake by 5%, currently holding 45,937 shares valued at $882,000 after purchasing an additional 2,191 shares. Moreover, Shaker Financial Services LLC raised its position in the fund by 0.8%, now owning 79,008 shares valued at $1,517,000 following the acquisition of 629 extra shares. Lastly, Concurrent Investment Advisors LLC significantly boosted its holdings by 53.2%, now owning 15,411 shares worth $296,000 after acquiring an additional 5,351 shares.

Stock Performance of Flaherty & Crumrine Dynamic Preferred and Income Fund

The stock price of Flaherty & Crumrine Dynamic Preferred and Income Fund opened at $20.39. Over the past year, the stock has reached a low of $15.48 and a high of $21.73. The fund's 50-day simple moving average is currently $20.88, and the 200-day simple moving average stands at $19.61.

Recent Dividend Announcement

The company has recently declared a monthly dividend, scheduled to be paid on Friday, November 29th. Shareholders who are on record as of Thursday, November 21st will receive a dividend of $0.1151 per share. The ex-dividend date is also set for November 21st. This represents an annualized dividend of $1.38, leading to a dividend yield of 6.77%. This increase reflects a rise from the fund’s previous monthly dividend of $0.11.

About Flaherty & Crumrine Dynamic Preferred and Income Fund

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. is a closed-end balanced mutual fund managed by Flaherty & Crumrine Incorporated. The fund focuses its investments in public equity and fixed income markets worldwide, targeting stocks from companies across a wide range of sectors.

Stocks, Investment, Dividend