BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) Sees Large Decline in Short Interest

BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 1,297 shares, a drop of 40.9% from the May 31st total of 2,193 shares. Based on an average trading volume of 659 shares, the days-to-cover ratio is currently 2.0 days.

BFC Capital Trust II PFD TR 7.20% Stock Down 1.3%

NASDAQ:BANFP traded down $0.34 during trading hours on Wednesday, hitting $26.25. 1,741 shares of the stock were exchanged, compared to its average volume of 736. The company’s 50 day moving average is $26.44 and its two-hundred day moving average is $26.29. BFC Capital Trust II PFD TR 7.20% has a twelve month low of $25.50 and a twelve month high of $27.09.

BFC Capital Trust II PFD TR 7.20% Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.80 annualized dividend and a dividend yield of 6.9%.

Institutional Investors Weigh In On BFC Capital Trust II PFD TR 7.20%

An institutional investor recently bought a new stake in BFC Capital Trust II PFD TR 7.20% stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,586 shares of the company’s stock, valued at approximately $42,000.

BFC Capital Trust II is a Delaware statutory trust formed by BFC Financial Corporation to issue and manage its 7.20% cumulative redeemable trust preferred securities. The trust’s sole assets consist of junior subordinated debentures issued by BFC Financial Corporation, which were acquired using the net proceeds from the preferred securities offering. The securities trade on the Nasdaq under the ticker symbol BANFP.

The trust’s primary activity is the administration of these fixed-rate trust preferred securities.