Raymond James Financial Inc. Purchases New Holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP)

Raymond James Financial Inc. purchased a new stake in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) in the fourth quarter, Holdings Channel.com reports. The firm purchased 975,314 shares of the company’s stock, valued at approximately $19,448,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kovitz Investment Group Partners LLC purchased a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund in the third quarter valued at about $4,911,000. Whipplewood Advisors LLC purchased a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund in the fourth quarter valued at about $2,801,000. Hennion & Walsh Asset Management Inc. boosted its holdings in 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 valued at $914,000 after purchasing an additional 26,601 shares during the last quarter. Principal Securities Inc. boosted its holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund by 5.4% in the fourth quarter. Principal Securities Inc. now owns 34,478 shares of the company’s stock valued at $687,000 after purchasing an additional 1,775 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Flaherty & Crumrine Dynamic Preferred and Income Fund by 15.7% during the third quarter. HighTower Advisors LLC now owns 29,542 shares of the company’s stock valued at $635,000 after buying an additional 3,999 shares in the last quarter.

Flaherty & Crumrine Dynamic Preferred and Income Fund Stock Performance

Shares of NYSE DFP opened at $20.32 on Monday. The stock’s 50 day moving average price is $20.40 and its two-hundred day moving average price is $20.57. Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. has a 52-week low of $17.78 and a 52-week high of $21.73.

Flaherty & Crumrine Dynamic Preferred and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $0.1151 per share. This represents a $1.38 annualized dividend and a yield of 6.80%. 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.