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PFD

Flaherty & Crumrine Preferred and Income Fund
PFD

32 hedge funds and large institutions have $10.1M invested in Flaherty & Crumrine Preferred and Income Fund in 2018 Q3 according to their latest regulatory filings, with 6 funds opening new positions, 14 increasing their positions, 4 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

250% more repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 4

50% more first-time investments, than exits

New positions opened: 6 | Existing positions closed: 4

7% more funds holding

Funds holding: 30 → 32 (+2)

4% more capital invested

Capital invested by funds: $9.75M → $10.1M (+$389K)

0.54% more ownership

Funds ownership: 6.44% → 6.98% (+0.54%)

Holders
32
Holders Change
+2
Holders Change %
+6.67%
% of All Funds
0.73%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
6
Increased
14
Reduced
4
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Cohen & Steers
Cohen & Steers
New York
+$356K
2
UBS Group
UBS Group
Switzerland
+$293K
3
Bank of America
Bank of America
North Carolina
+$182K
4
Millennium Management
Millennium Management
New York
+$171K
5
Wells Fargo
Wells Fargo
California
+$112K

Top Sellers

1
RCM
Robinson Capital Management
Michigan
-$409K
2
HighTower Advisors
HighTower Advisors
Illinois
-$157K
3
WAM
Wolverine Asset Management
Illinois
-$95.4K
4
RCG
Ruggie Capital Group
Florida
-$68K
5
CCM
Covington Capital Management
California
-$46.8K
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
1
Morgan Stanley
New York
$1.76M +$74K +5,375 +4%
FDCDDQ
2
Federation des caisses Desjardins du Quebec
Quebec, Canada
$1.73M +$44K +3,198 +2%
UBS Group
3
UBS Group
Switzerland
$1.09M +$293K +21,303 +34%
Invesco
4
Invesco
Georgia
$1.04M +$57.1K +4,145 +5%
Cohen & Steers
5
Cohen & Steers
New York
$792K +$356K +25,875 +74%
Bank of America
6
Bank of America
North Carolina
$538K +$182K +13,222 +47%
LPL Financial
7
LPL Financial
California
$529K +$55.1K +4,000 +11%
DADC
8
D.A. Davidson & Co
Montana
$337K – – –
PAG
9
Private Advisor Group
New Jersey
$272K +$86.6K +6,288 +43%
Wells Fargo
10
Wells Fargo
California
$261K +$112K +8,105 +68%
LTFS
11
Ladenburg Thalmann Financial Services
Florida
$239K -$11K -799 -4%
CCM
12
Covington Capital Management
California
$196K -$46.8K -3,400 -18%
Creative Planning
13
Creative Planning
Kansas
$191K – – –
CRC
14
Curi RMB Capital
Illinois
$191K +$2.62K +190 +1%
RCM
15
Robinson Capital Management
Michigan
$177K -$409K -29,700 -68%
Millennium Management
16
Millennium Management
New York
$161K +$171K +12,396 New
Royal Bank of Canada
17
Royal Bank of Canada
Ontario, Canada
$103K +$28.1K +2,041 +34%
WAM
18
Wolverine Asset Management
Illinois
$94K -$95.4K -6,930 -49%
AG
19
Advisor Group
Arizona
$89K +$29K +2,107 +44%
RFC
20
Regions Financial Corp
Alabama
$71K +$75.7K +5,500 New
CAC
21
Certified Advisory Corp
Florida
$52K +$950 +69 +2%
FHB
22
First Hawaiian Bank
Hawaii
$40K +$43K +3,120 New
Northwestern Mutual Wealth Management
23
Northwestern Mutual Wealth Management
Wisconsin
$31K – – –
Citigroup
24
Citigroup
New York
$30K +$4.48K +325 +17%
PA
25
Parallel Advisors
California
$28K +$29.6K +2,150 New
1
2

PFD Hedge Fund Activity: Q3 2018 in Review

32 of the 4,374 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Preferred and Income Fund (PFD) for Q3 2018, worth a combined $10.1M — up 4% from $9.75M a quarter earlier.

Buyers outnumbered sellers: 6 funds opened new PFD positions and 4 closed out — a net gain of 2 holders — while 14 added to existing stakes and 4 trimmed.

The largest buyer was Cohen & Steers, adding an estimated $356K. The largest seller was Robinson Capital Management, cutting an estimated $409K.

  • 32 institutional investors held Flaherty & Crumrine Preferred and Income Fund (PFD) as of Q3 2018, up from 30 in Q2 2018.
  • Funds reported $10.1M of Flaherty & Crumrine Preferred and Income Fund stock for Q3 2018, up 4% quarter-over-quarter.
  • 6 funds opened new Flaherty & Crumrine Preferred and Income Fund positions in Q3 2018 and 4 closed out, a net change of +2 holders.
  • The largest Flaherty & Crumrine Preferred and Income Fund buyer in Q3 2018 was Cohen & Steers, an estimated $356K added.
  • The largest Flaherty & Crumrine Preferred and Income Fund seller in Q3 2018 was Robinson Capital Management, an estimated $409K sold.

Based on aggregated 13F filings for Q3 2018.