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DFP

Flaherty & Crumrine Dynamic Preferred and Income Fund
DFP

16 hedge funds and large institutions have $15.7M invested in Flaherty & Crumrine Dynamic Preferred and Income Fund in 2013 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 4 increasing their positions, 3 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

200% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 3

45% more funds holding

Funds holding: 11 → 16 (+5)

33% more repeat investments, than reductions

Existing positions increased: 4 | Existing positions reduced: 3

27% more capital invested

Capital invested by funds: $12.4M → $15.7M (+$3.38M)

1.35% more ownership

Funds ownership: 2.75% → 4.1% (+1.4%)

Holders
16
Holders Change
+5
Holders Change %
+45.45%
% of All Funds
0.52%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
9
Increased
4
Reduced
3
Closed
3
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
RJA
Raymond James & Associates
Florida
+$2.52M
2
Invesco
Invesco
Georgia
+$2.41M
3
SCM
Saba Capital Management
New York
+$2.4M
4
Wells Fargo
Wells Fargo
California
+$1.52M
5
OA
Oxbow Advisors
Texas
+$798K

Top Sellers

1
RJFSA
Raymond James Financial Services Advisors
Florida
-$3.67M
2
Millennium Management
Millennium Management
New York
-$1.88M
3
U
UBS
Switzerland
-$101K
4
PNC
Park National Corp
Ohio
-$10.8K
5
TRCT
Tower Research Capital (TRC)
New York
-$3K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJA
1
Raymond James & Associates
Florida
$6M +$2.52M +116,691 +71%
Invesco
2
Invesco
Georgia
$2.38M +$2.41M +111,707 New
SCM
3
Saba Capital Management
New York
$2.38M +$2.4M +111,358 New
Wells Fargo
4
Wells Fargo
California
$1.9M +$1.52M +70,221 +377%
OA
5
Oxbow Advisors
Texas
$788K +$798K +36,945 New
PNC
6
Park National Corp
Ohio
$523K -$10.8K -500 -2%
ACP
7
Aviance Capital Partners
Florida
$452K +$25.9K +1,200 +6%
FAAS
8
First Allied Advisory Services
California
$330K +$335K +15,500 New
WS
9
Wedbush Securities
California
$214K +$216K +10,018 New
SNC
10
Stifel Nicolaus & Co
Missouri
$206K +$208K +9,652 New
PFS
11
Prospera Financial Services
Texas
$205K -$2.89K -134 -1%
BRWA
12
B. Riley Wealth Advisors
Florida
$117K +$32.4K +1,500 +38%
Bank of Montreal
13
Bank of Montreal
Ontario, Canada
$113K +$114K +5,300 New
U
14
UBS
Switzerland
$71K -$101K -4,667 -59%
PNC Financial Services Group
15
PNC Financial Services Group
Pennsylvania
$64K +$64.8K +3,000 New
Creative Planning
16
Creative Planning
Kansas
$4K +$4.32K +200 New
RJFSA
17
Raymond James Financial Services Advisors
Florida
– -$3.67M -146,970 Closed
Millennium Management
18
Millennium Management
New York
– -$1.88M -75,000 Closed
TRCT
19
Tower Research Capital (TRC)
New York
– -$3K -124 Closed

DFP Hedge Fund Activity: Q3 2013 in Review

16 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) for Q3 2013, worth a combined $15.7M — up 27% from $12.4M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new DFP positions and 3 closed out — a net gain of 6 holders — while 4 added to existing stakes and 3 trimmed.

The largest buyer was Raymond James & Associates, adding an estimated $2.52M. The largest seller was Raymond James Financial Services Advisors, exiting entirely with an estimated $3.67M sold.

  • 16 institutional investors held Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) as of Q3 2013, up from 11 in Q2 2013.
  • Funds reported $15.7M of Flaherty & Crumrine Dynamic Preferred and Income Fund stock for Q3 2013, up 27% quarter-over-quarter.
  • 9 funds opened new Flaherty & Crumrine Dynamic Preferred and Income Fund positions in Q3 2013 and 3 closed out, a net change of +6 holders.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund buyer in Q3 2013 was Raymond James & Associates, an estimated $2.52M added.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund seller in Q3 2013 was Raymond James Financial Services Advisors, an estimated $3.67M sold.

Based on aggregated 13F filings for Q3 2013.