BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP) Sees Significant Decline in Short Interest

BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP – Get Free Report) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,297 shares, a drop of 40.9% from the May 31st total of 2,193 shares. Based on an average daily trading volume, of 659 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On BFC Capital Trust II PFD TR 7.20%

A hedge fund recently bought a new position in BFC Capital Trust II PFD TR 7.20% stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in BFC Capital Trust II PFD TR 7.20% (NASDAQ:BANFP – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,586 shares of the company’s stock, valued at approximately $42,000.

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BFC Capital Trust II PFD TR 7.20% Trading Down 1.3%

Shares of NASDAQ BANFP traded down $0.34 during mid-day trading on Wednesday, hitting $26.25. 1,741 shares of the stock traded hands, compared to its average volume of 736. The stock has a fifty day moving average price of $26.44 and a 200-day moving average price of $26.29. BFC Capital Trust II PFD TR 7.20% has a 52 week low of $25.50 and a 52 week high of $27.09.

BFC Capital Trust II PFD TR 7.20% Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.80 dividend on an annualized basis and a yield of 6.9%.

BFC Capital Trust II is a Delaware statutory trust formed by BFC Financial Corporation to issue and manage its 7.20% cumulative redeemable trust preferred securities. The trust’s sole assets consist of junior subordinated debentures issued by BFC Financial Corporation, which were acquired using the net proceeds from the preferred securities offering. The securities trade on the Nasdaq under the ticker symbol BANFP.

The trust’s primary activity is the administration of these fixed-rate trust preferred securities.

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