Closed End Fund Advisors Inc. Acquires New Position in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. $DFP

Closed End Fund Advisors Inc. acquired a new stake in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,013 shares of the company’s stock, valued at approximately $936,000.

A number of other hedge funds have also recently modified their holdings of the company. Mathes Company Inc. grew its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 16.1% in the fourth quarter. Mathes Company Inc. now owns 18,000 shares of the company’s stock valued at $374,000 after purchasing an additional 2,500 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the fourth quarter valued at about $141,000. Farther Finance Advisors LLC grew its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 171.5% in the fourth quarter. Farther Finance Advisors LLC now owns 17,845 shares of the company’s stock valued at $371,000 after purchasing an additional 11,272 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 29.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 158,315 shares of the company’s stock valued at $3,291,000 after purchasing an additional 36,304 shares during the period. Finally, Capital Investment Advisors LLC purchased a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the fourth quarter valued at about $534,000.

Flaherty & Crumrine Dynamic Preferred and Income Fund Price Performance

Shares of DFP opened at $20.16 on Friday. Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. has a 12-month low of $19.56 and a 12-month high of $22.11. The firm has a 50-day moving average price of $20.63 and a 200 day moving average price of $20.99.

Flaherty & Crumrine Dynamic Preferred and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be given a $0.1295 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) dividend on an annualized basis and a yield of 7.7%.

Flaherty & Crumrine Dynamic Preferred and Income Fund Profile

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.