BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) Short Interest Up 104.8% in May

BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 2,193 shares, a growth of 104.8% from the May 14th total of 1,071 shares. Based on an average daily volume of 396 shares, the short-interest ratio is presently 5.5 days.

Hedge Funds Weigh In On BFC Capital Trust II PFD TR 7.20%

An institutional investor 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 shares of BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,586 shares of the company’s stock, valued at approximately $42,000.

BFC Capital Trust II PFD TR 7.20% Price Performance

Shares of NASDAQ BANFP traded up $0.85 during midday trading on Friday, reaching $27.10. The company’s stock had a trading volume of 1,726 shares, compared to its average volume of 728. BFC Capital Trust II PFD TR 7.20% has a fifty-two week low of $25.50 and a fifty-two week high of $26.63. The stock has a 50 day simple moving average of $26.37 and a 200-day simple moving average of $26.25.

BFC Capital Trust II PFD TR 7.20% Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Tuesday, June 30th.

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.