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PFD

Flaherty & Crumrine Preferred and Income Fund
PFD

41 hedge funds and large institutions have $14.3M invested in Flaherty & Crumrine Preferred and Income Fund in 2023 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 15 increasing their positions, 5 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

267% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 3

200% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 5

24% more funds holding

Funds holding: 33 → 41 (+8)

0.46% more ownership

Funds ownership: 12.21% → 12.66% (+0.46%)

4% less capital invested

Capital invested by funds: $14.9M → $14.3M (-$595K)

Holders
41
Holders Change
+8
Holders Change %
+24.24%
% of All Funds
0.65%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
15
Reduced
5
Closed
3
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
WAM
Wolverine Asset Management
Illinois
+$678K
2
AA
AQR Arbitrage
Connecticut
+$431K
3
UBS Group
UBS Group
Switzerland
+$406K
4
RCM
Robinson Capital Management
Michigan
+$389K
5
SCM
Saba Capital Management
New York
+$248K

Top Sellers

1
Invesco
Invesco
Georgia
-$1.33M
2
HBCM
Heron Bay Capital Management
Michigan
-$408K
3
NA
NewEdge Advisors
Louisiana
-$157K
4
PWPS
Pinnacle Wealth Planning Services
Ohio
-$153K
5
Morgan Stanley
Morgan Stanley
New York
-$64.4K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJFSA
1
Raymond James Financial Services Advisors
Florida
$2.33M +$897 +92 +0%
Morgan Stanley
2
Morgan Stanley
New York
$2.04M -$64.4K -6,598 -3%
UBS Group
3
UBS Group
Switzerland
$1.63M +$406K +41,636 +31%
WAM
4
Wolverine Asset Management
Illinois
$1.04M +$678K +69,513 +156%
Osaic Holdings
5
Osaic Holdings
Arizona
$938K +$34.9K +3,580 +4%
CF
6
Centaurus Financial
California
$932K +$42.9K +4,394 +4%
PWS
7
Private Wealth Strategies
Ohio
$593K +$7.17K +735 +1%
Royal Bank of Canada
8
Royal Bank of Canada
Ontario, Canada
$504K +$5.25K +538 +1%
SA
9
SFI Advisors
New Jersey
$446K +$34.1K +3,500 +8%
AA
10
AQR Arbitrage
Connecticut
$403K +$431K +44,171 New
LPL Financial
11
LPL Financial
California
$397K -$13.2K -1,352 -3%
Baird Financial Group
12
Baird Financial Group
Wisconsin
$397K -$28.4K -2,912 -6%
RCM
13
Robinson Capital Management
Michigan
$358K +$389K +39,911 New
DADC
14
D.A. Davidson & Co
Montana
$280K +$27.9K +2,864 +10%
Wells Fargo
15
Wells Fargo
California
$234K +$5.52K +566 +2%
SCM
16
Saba Capital Management
New York
$232K +$248K +25,375 New
CFG
17
Cooper Financial Group
California
$184K – – –
Commonwealth Equity Services
18
Commonwealth Equity Services
Massachusetts
$165K +$4.59K +471 +3%
RJA
19
Raymond James & Associates
Florida
$153K +$3.2K +328 +2%
WS
20
Wedbush Securities
California
$152K -$37.8K -3,878 -19%
PFC
21
Poplar Forest Capital
California
$141K – – –
NA
22
NewEdge Advisors
Louisiana
$120K -$157K -16,124 -55%
HF
23
HRT Financial
New York
$110K +$118K +12,100 New
Susquehanna International Group
24
Susquehanna International Group
Pennsylvania
$101K +$108K +11,094 New
Wealth Enhancement Advisory Services
25
Wealth Enhancement Advisory Services
Minnesota
$93.6K +$100K +10,247 New
1
2

PFD Hedge Fund Activity: Q3 2023 in Review

41 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Preferred and Income Fund (PFD) for Q3 2023, worth a combined $14.3M — down 4% from $14.9M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new PFD positions and 3 closed out — a net gain of 8 holders — while 15 added to existing stakes and 5 trimmed.

The largest buyer was Wolverine Asset Management, adding an estimated $678K. The largest seller was Invesco, exiting entirely with an estimated $1.33M sold.

  • 41 institutional investors held Flaherty & Crumrine Preferred and Income Fund (PFD) as of Q3 2023, up from 33 in Q2 2023.
  • Funds reported $14.3M of Flaherty & Crumrine Preferred and Income Fund stock for Q3 2023, down 4% quarter-over-quarter.
  • 11 funds opened new Flaherty & Crumrine Preferred and Income Fund positions in Q3 2023 and 3 closed out, a net change of +8 holders.
  • The largest Flaherty & Crumrine Preferred and Income Fund buyer in Q3 2023 was Wolverine Asset Management, an estimated $678K added.
  • The largest Flaherty & Crumrine Preferred and Income Fund seller in Q3 2023 was Invesco, an estimated $1.33M sold.

Based on aggregated 13F filings for Q3 2023.