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DFP

Flaherty & Crumrine Dynamic Preferred and Income Fund
DFP

40 hedge funds and large institutions have $45.4M invested in Flaherty & Crumrine Dynamic Preferred and Income Fund in 2017 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 22 increasing their positions, 8 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

175% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 8

0.6% less ownership

Funds ownership: 9.53% → 8.93% (-0.6%)

5% less funds holding

Funds holding: 42 → 40 (-2)

6% less capital invested

Capital invested by funds: $48.1M → $45.4M (-$2.7M)

20% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 5

Holders
40
Holders Change
-2
Holders Change %
-4.76%
% of All Funds
1%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
22
Reduced
8
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
SI
SII Investments
Wisconsin
+$887K
2
MML Investors Services
MML Investors Services
Massachusetts
+$695K
3
GC
Guggenheim Capital
Illinois
+$531K
4
SWP
Stratos Wealth Partners
Ohio
+$329K
5
CCM
Covington Capital Management
California
+$264K

Top Sellers

1
OA
Oxbow Advisors
Texas
-$4.51M
2
Invesco
Invesco
Georgia
-$796K
3
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$492K
4
PPA
Parametric Portfolio Associates
Washington
-$401K
5
Millennium Management
Millennium Management
New York
-$294K
Name Holding Trade Value Shares
Change 		Change in
Stake
SWP
26
Stratos Wealth Partners
Ohio
$330K +$329K +12,461 New
PAS
27
Partnervest Advisory Services
California
$315K +$18.8K +710 +6%
PNC Financial Services Group
28
PNC Financial Services Group
Pennsylvania
$304K +$106 +4 +0%
BIAS
29
Beacon Investment Advisory Services
New Jersey
$231K +$230K +8,713 New
Stifel Financial
30
Stifel Financial
Missouri
$211K -$117K -4,420 -36%
Commonwealth Equity Services
31
Commonwealth Equity Services
Massachusetts
$210K +$4.44K +168 +2%
Bank of America
32
Bank of America
North Carolina
$66K +$11.7K +444 +22%
AG
33
Advisor Group
Arizona
$57K +$634 +24 +1%
PFGIA
34
Patriot Financial Group Insurance Agency
Massachusetts
$53K – – –
NFG
35
Next Financial Group
Texas
$45K – – –
Manulife (Manufacturers Life Insurance)
36
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$37K +$7.63K +289 +27%
BBHC
37
Brown Brothers Harriman & Co
New York
$27K – – –
Citigroup
38
Citigroup
New York
$27K – – –
Northwestern Mutual Wealth Management
39
Northwestern Mutual Wealth Management
Wisconsin
$25K -$65.6K -2,483 -73%
PA
40
Parallel Advisors
California
$6K +$79 +3 +1%
OA
41
Oxbow Advisors
Texas
– -$4.51M -171,677 Closed
PPA
42
Parametric Portfolio Associates
Washington
– -$401K -15,245 Closed
Millennium Management
43
Millennium Management
New York
– -$294K -11,177 Closed
PFS
44
Prospera Financial Services
Texas
– -$203K -7,700 Closed
PCM
45
Penserra Capital Management
California
– -$13K -502 Closed
1
2

DFP Hedge Fund Activity: Q3 2017 in Review

40 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) for Q3 2017, worth a combined $45.4M — down 5.6% from $48.1M a quarter earlier.

Sellers outnumbered buyers: 5 funds closed out of DFP and 4 opened new positions — a net loss of 1 holder — while 8 trimmed existing stakes and 22 added.

The largest buyer was SII Investments, opening a new position worth an estimated $887K. The largest seller was Oxbow Advisors, exiting entirely with an estimated $4.51M sold.

  • 40 institutional investors held Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) as of Q3 2017, down from 42 in Q2 2017.
  • Funds reported $45.4M of Flaherty & Crumrine Dynamic Preferred and Income Fund stock for Q3 2017, down 5.6% quarter-over-quarter.
  • 4 funds opened new Flaherty & Crumrine Dynamic Preferred and Income Fund positions in Q3 2017 and 5 closed out, a net change of -1 holder.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund buyer in Q3 2017 was SII Investments, an estimated $887K added.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund seller in Q3 2017 was Oxbow Advisors, an estimated $4.51M sold.

Based on aggregated 13F filings for Q3 2017.