Flaherty & Crumrine Total Return Fund (NYSE:FLC) Share Price Passes Below 50 Day Moving Average – Here’s Why

Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLCGet Free Report)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $16.74 and traded as low as $16.24. Flaherty & Crumrine Total Return Fund shares last traded at $16.26, with a volume of 36,012 shares trading hands.

Flaherty & Crumrine Total Return Fund Price Performance

The company’s 50-day moving average is $16.72 and its 200-day moving average is $16.89.

Flaherty & Crumrine Total Return Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be paid a $0.1067 dividend. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date is Friday, October 23rd.

Hedge Funds Weigh In On Flaherty & Crumrine Total Return Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers bought a new stake in Flaherty & Crumrine Total Return Fund in the second quarter valued at $199,000. Invesco Ltd. increased its position in shares of Flaherty & Crumrine Total Return Fund by 2.4% during the 2nd quarter. Invesco Ltd. now owns 145,617 shares of the company’s stock worth $2,475,000 after purchasing an additional 3,386 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Flaherty & Crumrine Total Return Fund by 105.6% during the 2nd quarter. Baird Financial Group Inc. now owns 41,340 shares of the company’s stock valued at $703,000 after purchasing an additional 21,232 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Flaherty & Crumrine Total Return Fund by 3.8% during the 2nd quarter. Osaic Holdings Inc. now owns 17,196 shares of the company’s stock valued at $292,000 after purchasing an additional 629 shares during the last quarter. Finally, Seven Mile Advisory bought a new position in Flaherty & Crumrine Total Return Fund during the 3rd quarter valued at about $230,000.

About Flaherty & Crumrine Total Return Fund

(Get Free Report)

Flaherty & Crumrine Total Return Fund Inc (NYSE: FLC) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund principally invests in preferred and other hybrid securities issued by financial services companies, including banks, insurance firms and real estate investment trusts. Listed on the New York Stock Exchange, FLC employs a diversified portfolio approach to access the preferred securities market and generate an attractive income stream for shareholders.

The fund’s investment strategy emphasizes preferred stocks, with at least 65% of its managed assets directed toward these instruments.

Further Reading

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