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DFP

Flaherty & Crumrine Dynamic Preferred and Income Fund
DFP

40 hedge funds and large institutions have $53.8M invested in Flaherty & Crumrine Dynamic Preferred and Income Fund in 2014 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 12 increasing their positions, 13 reducing their positions, and 1 closing their positions.

New
Increased
Maintained
Reduced
Closed

900% more first-time investments, than exits

New positions opened: 10 | Existing positions closed: 1

25% more funds holding

Funds holding: 32 → 40 (+8)

0.01% more ownership

Funds ownership: 12.61% → 12.62% (+0.01%)

2% less capital invested

Capital invested by funds: $54.6M → $53.8M (-$824K)

8% less repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 13

Holders
40
Holders Change
+8
Holders Change %
+25%
% of All Funds
1.07%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
10
Increased
12
Reduced
13
Closed
1
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
OA
Oxbow Advisors
Texas
+$789K
2
VKH
Virtu KCG Holdings
New York
+$542K
3
LPL Financial
LPL Financial
California
+$417K
4
JP Morgan Chase
JP Morgan Chase
New York
+$289K
5
Invesco
Invesco
Georgia
+$248K

Top Sellers

1
RVP
Relative Value Partners
Illinois
-$2.81M
2
Stifel Financial
Stifel Financial
Missouri
-$357K
3
PFS
Prospera Financial Services
Texas
-$198K
4
TJHA
Thomas J. Herzfeld Advisors
Florida
-$145K
5
Cohen & Steers
Cohen & Steers
New York
-$106K
Name Holding Trade Value Shares
Change 		Change in
Stake
CAN
26
Cetera Advisor Networks
California
$252K +$43.6K +1,900 +20%
TC
27
TFS Capital
Pennsylvania
$238K +$246K +10,712 New
Deutsche Bank
28
Deutsche Bank
Germany
$119K -$22.9K -1,000 -16%
Bank of America
29
Bank of America
North Carolina
$103K – – –
TRCT
30
Tower Research Capital (TRC)
New York
$102K +$106K +4,600 New
PNC Financial Services Group
31
PNC Financial Services Group
Pennsylvania
$79K -$9.98K -435 -11%
MFS
32
MSI Financial Services
Massachusetts
$27K – – –
AllianceBernstein
33
AllianceBernstein
Tennessee
$25K – – –
Creative Planning
34
Creative Planning
Kansas
$22K -$66.5K -2,900 -74%
NPC
35
National Planning Corporation
California
$12K +$12K +521 New
ASN
36
Advisory Services Network
Georgia
$8K +$8.14K +355 New
Citigroup
37
Citigroup
New York
$8K +$8.17K +356 +2,543%
Bank of Montreal
38
Bank of Montreal
Ontario, Canada
$3K +$3.6K +157 New
MA
39
MUFG Americas
New York
$1K – – –
BRWA
40
B. Riley Wealth Advisors
Florida
$45 +$45.9K +2,000 New
TJHA
41
Thomas J. Herzfeld Advisors
Florida
– -$145K -6,431 Closed
1
2

DFP Hedge Fund Activity: Q4 2014 in Review

40 of the 3,749 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) for Q4 2014, worth a combined $53.8M — down 1.5% from $54.6M a quarter earlier.

Buyers outnumbered sellers: 10 funds opened new DFP positions and 1 closed out — a net gain of 9 holders — while 12 added to existing stakes and 13 trimmed.

The largest buyer was Oxbow Advisors, adding an estimated $789K. The largest seller was Relative Value Partners, cutting an estimated $2.81M.

  • 40 institutional investors held Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) as of Q4 2014, up from 32 in Q3 2014.
  • Funds reported $53.8M of Flaherty & Crumrine Dynamic Preferred and Income Fund stock for Q4 2014, down 1.5% quarter-over-quarter.
  • 10 funds opened new Flaherty & Crumrine Dynamic Preferred and Income Fund positions in Q4 2014 and 1 closed out, a net change of +9 holders.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund buyer in Q4 2014 was Oxbow Advisors, an estimated $789K added.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund seller in Q4 2014 was Relative Value Partners, an estimated $2.81M sold.

Based on aggregated 13F filings for Q4 2014.