Flah & Crum Dynamic Pref & Income Fund:DFP

    Manage Alerts

    Overview

    As of 9/25/2020

     Share
    Price
    NAVPremium/
    Discount
    Current$26.56$24.966.41%
    52 Wk Avg$25.34$24.891.77%
    52 Wk High$28.20$27.618.81%
    52 Wk Low$11.00$16.15-11.81%
    Regular Distribution TypeIncome Only
    Distribution Rate7.45%
    Distribution Amount$0.1650
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund seeks total return by investing in a portfolio of preferred and other income-producing securities issued by U.S. and non-U.S. companies. Under normal market conditions, the Fund invests at least 80% of its Managed Assets in preferred securities, including traditional preferred stock, hybrid and trust preferred securities that have characteristics of both equity and debt securities, convertible securities, subordinated debt and senior debt. The Fund may invest up to 100% of its Managed Assets in securities of U.S. companies, and may also invest up to 100% of its Managed Assets in securities of non-U.S. companies.

    Capital Structure

    As of 9/25/2020

    Total Investment Exposure:$730.973M
    Total Common Assets:$478.773M
    Common Shares Outstanding:19,181,620
    Leverage

    As of 9/25/2020

    Preferred Share Assets:
    Total Debt (USD): $252.200M
    Regulatory Leverage (USD): $252.200M
    Effective Leverage (USD): $252.200M
    Effective Leverage (%): 34.50%
    Annual Expense Ratios

    As of 11/30/2019

      Per Common Share
    Management Fees0.80%
    Other Expenses:0.26%
    Baseline Expense: N/A
    Interest Expense:1.67%
    Total: 2.73%
    Fund Management

    Fund Sponsor
    Flaherty & Crumrine

    Portfolio Managers
    Bradford S. Stone, R. Eric Chadwick

    Basics
    Category: Fixed Income - Taxable-Preferreds
    Ticker: DFP
    NAV Ticker: XDFPX
    Average Daily Volume (shares): 72,445
    Average Daily Volume (USD): $1.733M
    Inception Date: 5/24/2013
    Inception Share Price: $25.00
    Inception NAV: $23.82
    Tender Offer: No
    Term: No
    Fiscal Year End: November 30
    Third Party Links & Reports

    Distributions

    As of 9/25/2020

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 5/31/2020
    $0.8815
    Annualized Distribution Rate on NAV:
    As of 9/25/2020
    7.93%
    Total Return on NAV (12 months):
    As of 9/25/2020
    7.02%
    Avg. Portfolio Coupon:
    As of 9/25/2020
    7.18%
    Total % Portfolio Effectively Leveraged:
    As of 9/25/2020
    34.50%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 9/25/2020

    PeriodAvg Discount
    6 Month4.01%
    1 Year1.77%
    3 Year-1.60%
    5 Year-2.17%
    Z-Score

    As of 9/25/2020

    PeriodZStat
    3 Month1.25
    6 Month0.87
    1 Year1.35
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 8/31/2020
    Category: Morningstar US CEF Preferreds

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD4.19%1.33%-4.23%-3.93%
    201940.76%26.99%34.61%24.84%
    2018-17.55%-8.25%-10.75%-7.07%
    201720.75%16.75%15.74%14.49%
    201612.67%8.28%12.97%6.81%
    201511.92%5.84%7.23%5.58%
    201418.02%19.12%18.73%17.64%
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 8/31/2020
    Category: Morningstar US CEF Preferreds

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 9/25/2020
    7.18%
    Number of Holdings:
    As of 5/31/2020
    156
    Annual Portfolio Turnover:
    As of 11/30/2019
    18.00%
    Average Bond Price:
    As of 5/31/2020
    $107.57
    Asset Allocation

    As of 5/31/2020 reported by Fund Sponsor

    Top Sectors

    As of 5/31/2020 reported by Fund Sponsor

    Sector%Portfolio
    Corporate (Super Sector)94.18%
    Preferred Stock40.71%
    Corporate Bond34.11%
    Convertible19.35%
    Financial Services2.22%
    Cyclical (Super Sector)2.22%
    Cash Equivalents2.11%
    Cash Equivalents (Super Sector)2.11%
    Top Holdings

    As of 5/31/2020 reported by Fund Sponsor

    HoldingValue% Portfolio
    Citigroup Inc Deposit Shs Repr 1/1000th 6 7/8 % Non-Cum Perp Pfd Shs Series$31.39M4.45%
    Liberty Mutual Group, Inc. 7.8%$24.36M3.46%
    MetLife Inc. 9.25%$23.85M3.38%
    Morgan Stanley Deposit Shs Repr 1/1000th Non-Cum Pfd Shs Series -F-$18.41M2.61%
    Fifth Third Bancorp Deposit Shs Repr 1/1000th Non-Cum Perp Pfd Shs Series -$17.00M2.41%
    Regions Financial Corp Deposit Shs Repr 1/40th Non-Cum Perp Pfd Shs Series$16.77M2.38%
    PNC Financial Services Group Inc Perpetual Preferred Share class-P$16.35M2.32%
    M&T Bank Corp Non-Cum Perp Pfd Shs Series -E-$15.90M2.25%
    Lloyds Banking Group PLC Pref Shs Sponsored American Deposit Receipt Repr 1$15.64M2.22%
    New York Community Bancorp Inc Non-Cum Perp Pfd Shs Series -A-$14.38M2.04%
    Credit Quality

    As of 5/31/2020 reported by Fund Sponsor

    Maturity Breakdown

    As of 5/31/2020 reported by Fund Sponsor

    Country Allocation

    As of 5/31/2020 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income19.38%
    United Kingdom - Fixed Income2.47%
    United Kingdom - Equity2.22%
    Switzerland - Fixed Income2.15%
    France - Fixed Income1.41%
    United States - Equity1.00%
    Netherlands - Fixed Income0.58%
    Mexico - Fixed Income0.43%
    Australia - Fixed Income0.20%
    Germany - Fixed Income0.09%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    EWB-1014244PR-E1119W