Sit Investment Associates Inc. Buys New Holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP)

Sit Investment Associates Inc. purchased a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 37,875 shares of the company’s stock, valued at approximately $755,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the fourth quarter worth $19,448,000. Kovitz Investment Group Partners LLC purchased a new stake in Flaherty & Crumrine Dynamic Preferred and Income Fund in the 3rd quarter worth $4,911,000. Wells Fargo & Company MN boosted its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 12.9% during the 4th quarter. Wells Fargo & Company MN now owns 191,409 shares of the company’s stock valued at $3,817,000 after purchasing an additional 21,877 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the fourth quarter valued at about $2,801,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 138.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 45,825 shares of the company’s stock worth $914,000 after purchasing an additional 26,601 shares during the last quarter.

Flaherty & Crumrine Dynamic Preferred and Income Fund Price Performance

Shares of Flaherty & Crumrine Dynamic Preferred and Income Fund stock opened at $18.96 on Monday. The stock has a 50 day moving average of $20.39 and a 200 day moving average of $20.52. Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. has a 12 month low of $17.78 and a 12 month high of $21.73.

Flaherty & Crumrine Dynamic Preferred and Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a $0.1151 dividend. This represents a $1.38 annualized dividend and a yield of 7.28%. The ex-dividend date is Wednesday, April 23rd.

About Flaherty & Crumrine Dynamic Preferred and Income Fund

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.