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DFP

Flaherty & Crumrine Dynamic Preferred and Income Fund
DFP

45 hedge funds and large institutions have $48.3M invested in Flaherty & Crumrine Dynamic Preferred and Income Fund in 2017 Q4 according to their latest regulatory filings, with 13 funds opening new positions, 19 increasing their positions, 11 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

73% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 11

63% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 8

13% more funds holding

Funds holding: 40 → 45 (+5)

6% more capital invested

Capital invested by funds: $45.4M → $48.3M (+$2.95M)

0.52% more ownership

Funds ownership: 8.93% → 9.45% (+0.52%)

Holders
45
Holders Change
+5
Holders Change %
+12.5%
% of All Funds
1.02%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
13
Increased
19
Reduced
11
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
LTFS
Ladenburg Thalmann Financial Services
Florida
+$2.04M
2
Ameriprise
Ameriprise
Minnesota
+$521K
3
MML Investors Services
MML Investors Services
Massachusetts
+$498K
4
Millennium Management
Millennium Management
New York
+$386K
5
Wells Fargo
Wells Fargo
California
+$339K

Top Sellers

1
RJFSA
Raymond James Financial Services Advisors
Florida
-$3.35M
2
GC
Guggenheim Capital
Illinois
-$1.1M
3
SI
SII Investments
Wisconsin
-$886K
4
Invesco
Invesco
Georgia
-$617K
5
PAG
Private Advisor Group
New Jersey
-$355K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJA
1
Raymond James & Associates
Florida
$8.46M +$138K +5,192 +2%
Invesco
2
Invesco
Georgia
$6.09M -$617K -23,288 -9%
Wells Fargo
3
Wells Fargo
California
$4.33M +$339K +12,796 +9%
LWS
4
Lucia Wealth Services
California
$4.31M +$4.29M +161,656 New
LTFS
5
Ladenburg Thalmann Financial Services
Florida
$2.84M +$2.04M +76,869 +261%
LPL Financial
6
LPL Financial
California
$2.33M +$39.4K +1,485 +2%
FFA
7
First Foundation Advisors
California
$2.27M +$146K +5,502 +7%
Morgan Stanley
8
Morgan Stanley
New York
$2M -$54.3K -2,048 -3%
ACP
9
Aviance Capital Partners
Florida
$1.72M -$29.4K -1,109 -2%
MC
10
Mathes Company
New York
$1.52M -$345K -13,025 -19%
MML Investors Services
11
MML Investors Services
Massachusetts
$1.2M +$498K +18,794 +71%
GC
12
Guggenheim Capital
Illinois
$1.12M -$1.1M -41,634 -50%
CCM
13
Covington Capital Management
California
$1.02M -$15.9K -600 -2%
Cohen & Steers
14
Cohen & Steers
New York
$1M +$196K +7,406 +25%
Ameriprise
15
Ameriprise
Minnesota
$936K +$521K +19,642 +127%
UBS Group
16
UBS Group
Switzerland
$759K +$331K +12,489 +78%
Royal Bank of Canada
17
Royal Bank of Canada
Ontario, Canada
$616K -$106K -3,985 -15%
MWM
18
Meridian Wealth Management
Kentucky
$574K +$9.63K +363 +2%
Cambridge Investment Research Advisors
19
Cambridge Investment Research Advisors
Iowa
$528K +$18.6K +701 +4%
AIM
20
Advantage Investment Management
Iowa
$454K -$50.4K -1,900 -10%
BW
21
Bison Wealth
Georgia
$438K +$27 +1 +0%
XS
22
XML Securities
Maryland
$436K +$434K +16,384 New
Millennium Management
23
Millennium Management
New York
$388K +$386K +14,541 New
CAN
24
Cetera Advisor Networks
California
$386K +$52.9K +1,995 +16%
MFG
25
Merit Financial Group
Georgia
$339K +$338K +12,745 New
1
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DFP Hedge Fund Activity: Q4 2017 in Review

45 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) for Q4 2017, worth a combined $48.3M — up 6.5% from $45.4M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new DFP positions and 8 closed out — a net gain of 5 holders — while 19 added to existing stakes and 11 trimmed.

The largest buyer was Ladenburg Thalmann Financial Services, adding an estimated $2.04M. The largest seller was Raymond James Financial Services Advisors, exiting entirely with an estimated $3.35M sold.

  • 45 institutional investors held Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP) as of Q4 2017, up from 40 in Q3 2017.
  • Funds reported $48.3M of Flaherty & Crumrine Dynamic Preferred and Income Fund stock for Q4 2017, up 6.5% quarter-over-quarter.
  • 13 funds opened new Flaherty & Crumrine Dynamic Preferred and Income Fund positions in Q4 2017 and 8 closed out, a net change of +5 holders.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund buyer in Q4 2017 was Ladenburg Thalmann Financial Services, an estimated $2.04M added.
  • The largest Flaherty & Crumrine Dynamic Preferred and Income Fund seller in Q4 2017 was Raymond James Financial Services Advisors, an estimated $3.35M sold.

Based on aggregated 13F filings for Q4 2017.