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DFP

Flaherty & Crumrine Dynamic Preferred and Income Fund
DFP

36 hedge funds and large institutions have $47.3M invested in Flaherty & Crumrine Dynamic Preferred and Income Fund in 2013 Q4 according to their latest regulatory filings, with 23 funds opening new positions, 9 increasing their positions, 4 reducing their positions, and 2 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,050% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 2

200% more capital invested

Capital invested by funds: $15.7M → $47.3M (+$31.5M)

125% more funds holding

Funds holding: 16 → 36 (+20)

125% more repeat investments, than reductions

Existing positions increased: 9 | Existing positions reduced: 4

7.92% more ownership

Funds ownership: 4.1% → 12.02% (+7.9%)

Holders
36
Holders Change
+20
Holders Change %
+125%
% of All Funds
1.04%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
23
Increased
9
Reduced
4
Closed
2
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
OA
Oxbow Advisors
Texas
+$6.48M
2
MIG
Mariner Investment Group
New York
+$6.1M
3
SIA
Sit Investment Associates
Minnesota
+$4.84M
4
RVP
Relative Value Partners
Illinois
+$4.11M
5
Wells Fargo
Wells Fargo
California
+$1.59M

Top Sellers

1
RJA
Raymond James & Associates
Florida
-$641K
2
PFS
Prospera Financial Services
Texas
-$205K
3
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$50.9K
4
PNC
Park National Corp
Ohio
-$20.4K
5
Creative Planning
Creative Planning
Kansas
-$4K
Name Holding Trade Value Shares
Change 		Change in
Stake
OA
1
Oxbow Advisors
Texas
$7.29M +$6.48M +318,262 +861%
MIG
2
Mariner Investment Group
New York
$6.15M +$6.1M +299,736 New
RJA
3
Raymond James & Associates
Florida
$5.13M -$641K -31,504 -11%
SIA
4
Sit Investment Associates
Minnesota
$4.88M +$4.84M +237,927 New
RVP
5
Relative Value Partners
Illinois
$4.14M +$4.11M +201,710 New
Invesco
6
Invesco
Georgia
$3.88M +$1.57M +77,015 +69%
Wells Fargo
7
Wells Fargo
California
$3.42M +$1.59M +77,897 +88%
SCM
8
Saba Capital Management
New York
$2.28M -$2.04K -100 -0.1%
VKH
9
Virtu KCG Holdings
New York
$1.47M +$1.46M +71,682 New
KFS
10
KMS Financial Services
Washington
$1.12M +$1.11M +54,640 New
WAM
11
Wolverine Asset Management
Illinois
$811K +$805K +39,541 New
MC
12
Mathes Company
New York
$729K +$723K +35,500 New
ACP
13
Aviance Capital Partners
Florida
$673K +$236K +11,600 +55%
PPA
14
Parametric Portfolio Associates
Washington
$666K +$660K +32,426 New
FAAS
15
First Allied Advisory Services
California
$579K +$254K +12,500 +81%
CCM
16
Covington Capital Management
California
$575K +$570K +28,000 New
PNC
17
Park National Corp
Ohio
$482K -$20.4K -1,000 -4%
SFS
18
Shaker Financial Services
Virginia
$400K +$397K +19,500 New
Cohen & Steers
19
Cohen & Steers
New York
$393K +$390K +19,152 New
SAM
20
SignalPoint Asset Management
Missouri
$351K +$348K +17,118 New
LPL Financial
21
LPL Financial
California
$271K +$269K +13,207 New
PAG
22
Private Advisor Group
New Jersey
$253K +$251K +12,342 New
WS
23
Wedbush Securities
California
$210K +$4.68K +230 +2%
CAS
24
CTC Alternative Strategies
Illinois
$202K +$200K +9,820 New
U
25
UBS
Switzerland
$185K +$116K +5,708 +173%
1
2

DFP Hedge Fund Activity: Q4 2013 in Review

36 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) for Q4 2013, worth a combined $47.3M — up 200% from $15.7M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new DFP positions and 2 closed out — a net gain of 21 holders — while 9 added to existing stakes and 4 trimmed.

The largest buyer was Oxbow Advisors, adding an estimated $6.48M. The largest seller was Raymond James & Associates, cutting an estimated $641K.

  • 36 institutional investors held Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) as of Q4 2013, up from 16 in Q3 2013.
  • Funds reported $47.3M of Flaherty & Crumrine Dynamic Preferred and Income Fund stock for Q4 2013, up 200% quarter-over-quarter.
  • 23 funds opened new Flaherty & Crumrine Dynamic Preferred and Income Fund positions in Q4 2013 and 2 closed out, a net change of +21 holders.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund buyer in Q4 2013 was Oxbow Advisors, an estimated $6.48M added.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund seller in Q4 2013 was Raymond James & Associates, an estimated $641K sold.

Based on aggregated 13F filings for Q4 2013.