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PFD

Flaherty & Crumrine Preferred and Income Fund
PFD

29 hedge funds and large institutions have $9.73M invested in Flaherty & Crumrine Preferred and Income Fund in 2017 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 13 increasing their positions, 8 reducing their positions, and 1 closing their positions.

New
Increased
Maintained
Reduced
Closed

300% more first-time investments, than exits

New positions opened: 4 | Existing positions closed: 1

63% more repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 8

17% more capital invested

Capital invested by funds: $8.33M → $9.73M (+$1.4M)

12% more funds holding

Funds holding: 26 → 29 (+3)

1.04% more ownership

Funds ownership: 4.76% → 5.8% (+1%)

Holders
29
Holders Change
+3
Holders Change %
+11.54%
% of All Funds
0.72%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
13
Reduced
8
Closed
1
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
RCM
Robinson Capital Management
Michigan
+$571K
2
FDCDDQ
Federation des caisses Desjardins du Quebec
Quebec, Canada
+$558K
3
AIA
Allegis Investment Advisors
Idaho
+$243K
4
LPL Financial
LPL Financial
California
+$223K
5
CCM
Covington Capital Management
California
+$135K

Top Sellers

1
Wells Fargo
Wells Fargo
California
-$137K
2
Bank of America
Bank of America
North Carolina
-$54.2K
3
UBS Group
UBS Group
Switzerland
-$13.2K
4
WEC
Winslow Evans & Crocker
Massachusetts
-$10.5K
5
Invesco
Invesco
Georgia
-$8.5K
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
1
Morgan Stanley
New York
$1.64M +$255 +17 +0%
FDCDDQ
2
Federation des caisses Desjardins du Quebec
Quebec, Canada
$1.35M +$558K +37,134 +71%
UBS Group
3
UBS Group
Switzerland
$991K -$13.2K -880 -1%
Invesco
4
Invesco
Georgia
$864K -$8.5K -566 -1%
RCM
5
Robinson Capital Management
Michigan
$689K +$571K +38,034 +510%
LPL Financial
6
LPL Financial
California
$640K +$223K +14,826 +54%
Bank of America
7
Bank of America
North Carolina
$474K -$54.2K -3,608 -10%
Wells Fargo
8
Wells Fargo
California
$460K -$137K -9,146 -23%
CCM
9
Covington Capital Management
California
$432K +$135K +9,000 +46%
DADC
10
D.A. Davidson & Co
Montana
$393K +$10.5K +700 +3%
PAG
11
Private Advisor Group
New Jersey
$276K +$10.1K +671 +4%
LTFS
12
Ladenburg Thalmann Financial Services
Florida
$220K +$111K +7,375 +103%
CRC
13
Curi RMB Capital
Illinois
$212K +$2.67K +178 +1%
NCM
14
Noesis Capital Mangement
Florida
$209K +$11.3K +750 +6%
AIA
15
Allegis Investment Advisors
Idaho
$198K +$243K +16,154 New
Creative Planning
16
Creative Planning
Kansas
$161K -$2.67K -178 -2%
Cambridge Investment Research Advisors
17
Cambridge Investment Research Advisors
Iowa
$155K -$2.7K -180 -2%
Northwestern Mutual Wealth Management
18
Northwestern Mutual Wealth Management
Wisconsin
$104K +$67.6K +4,500 +190%
RCG
19
Ruggie Capital Group
Florida
$76K – – –
Manulife (Manufacturers Life Insurance)
20
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$43K -$1.95K -130 -4%
Royal Bank of Canada
21
Royal Bank of Canada
Ontario, Canada
$38K +$150 +10 +0.4%
PNC Financial Services Group
22
PNC Financial Services Group
Pennsylvania
$28K – – –
Citigroup
23
Citigroup
New York
$27K +$27K +1,800 New
IA
24
IFP Advisors
Florida
$14K – – –
AG
25
Advisor Group
Arizona
$11K +$180 +12 +2%
1
2

PFD Hedge Fund Activity: Q3 2017 in Review

29 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Preferred and Income Fund (PFD) for Q3 2017, worth a combined $9.73M — up 17% from $8.33M a quarter earlier.

Buyers outnumbered sellers: 4 funds opened new PFD positions and 1 closed out — a net gain of 3 holders — while 13 added to existing stakes and 8 trimmed.

The largest buyer was Robinson Capital Management, adding an estimated $571K. The largest seller was Wells Fargo, cutting an estimated $137K.

  • 29 institutional investors held Flaherty & Crumrine Preferred and Income Fund (PFD) as of Q3 2017, up from 26 in Q2 2017.
  • Funds reported $9.73M of Flaherty & Crumrine Preferred and Income Fund stock for Q3 2017, up 17% quarter-over-quarter.
  • 4 funds opened new Flaherty & Crumrine Preferred and Income Fund positions in Q3 2017 and 1 closed out, a net change of +3 holders.
  • The largest Flaherty & Crumrine Preferred and Income Fund buyer in Q3 2017 was Robinson Capital Management, an estimated $571K added.
  • The largest Flaherty & Crumrine Preferred and Income Fund seller in Q3 2017 was Wells Fargo, an estimated $137K sold.

Based on aggregated 13F filings for Q3 2017.