Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) Raises Dividend to $0.11 Per Share

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Friday, June 21st will be given a dividend of 0.1107 per share on Friday, June 28th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date is Friday, June 21st. This is an increase from Flaherty & Crumrine Dynamic Preferred and Income Fund’s previous monthly dividend of $0.11.

Flaherty & Crumrine Dynamic Preferred and Income Fund has decreased its dividend payment by an average of 8.3% annually over the last three years and has increased its dividend every year for the last 1 years.

Flaherty & Crumrine Dynamic Preferred and Income Fund Trading Down 0.4 %

NYSE:DFP traded down $0.07 during mid-day trading on Friday, hitting $17.94. 39,896 shares of the company’s stock traded hands, compared to its average volume of 52,048. The company has a fifty day moving average of $18.69 and a 200 day moving average of $17.80. Flaherty & Crumrine Dynamic Preferred and Income Fund has a twelve month low of $15.45 and a twelve month high of $19.31.

Hedge Funds Weigh In On Flaherty & Crumrine Dynamic Preferred and Income Fund

Several hedge funds have recently modified their holdings of DFP. Raymond James Trust N.A. grew its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 4.7% during the 1st quarter. Raymond James Trust N.A. now owns 12,478 shares of the company’s stock worth $325,000 after purchasing an additional 558 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 3.6% during the first quarter. Cerity Partners LLC now owns 18,646 shares of the company’s stock valued at $339,000 after buying an additional 646 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 4.7% in the 4th quarter. Kestra Advisory Services LLC now owns 14,763 shares of the company’s stock valued at $262,000 after acquiring an additional 667 shares during the period. Commonwealth Equity Services LLC lifted its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 1.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 62,356 shares of the company’s stock worth $1,132,000 after acquiring an additional 795 shares during the period. Finally, HighTower Advisors LLC grew its stake in Flaherty & Crumrine Dynamic Preferred and Income Fund by 9.2% during the 3rd quarter. HighTower Advisors LLC now owns 12,234 shares of the company’s stock valued at $204,000 after purchasing an additional 1,035 shares during the last quarter.

Flaherty & Crumrine Dynamic Preferred and Income Fund Company Profile

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc is a closed ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets across the globe. It seeks to invest in stocks of companies operating across diversified sectors.