Covington Capital Management Sells 2,000 Shares of Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP)

Covington Capital Management cut its stake in Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFPGet Rating) by 9.8% in the second quarter, HoldingsChannel reports. The fund owned 18,400 shares of the company’s stock after selling 2,000 shares during the period. Covington Capital Management’s holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund were worth $395,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Herold Advisors Inc. bought a new stake in Flaherty & Crumrine Dynamic Preferred and Income Fund in the first quarter valued at approximately $26,000. Fifth Third Bancorp acquired a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the first quarter valued at approximately $26,000. James Reed Financial Services Inc. acquired a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the fourth quarter valued at approximately $35,000. Prospera Financial Services Inc acquired a new position in Flaherty & Crumrine Dynamic Preferred and Income Fund during the first quarter worth $56,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Flaherty & Crumrine Dynamic Preferred and Income Fund by 6.7% during the first quarter. Mercer Global Advisors Inc. ADV now owns 7,958 shares of the company’s stock worth $207,000 after purchasing an additional 500 shares during the last quarter.

Flaherty & Crumrine Dynamic Preferred and Income Fund Stock Performance

Shares of DFP opened at $20.66 on Monday. Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. has a 12 month low of $20.51 and a 12 month high of $29.13. The firm has a fifty day simple moving average of $21.87 and a 200 day simple moving average of $22.97.

Flaherty & Crumrine Dynamic Preferred and Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 23rd will be paid a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date of this dividend is Thursday, September 22nd.

Flaherty & Crumrine Dynamic Preferred and Income Fund Company Profile

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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.

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Institutional Ownership by Quarter for Flaherty & Crumrine Dynamic Preferred and Income Fund (NYSE:DFP)

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