Advisors Asset Management Inc. Acquires 53,087 Shares of Flaherty & Crumrine Total Return Fund Inc. $FLC

Advisors Asset Management Inc. raised its stake in shares of Flaherty & Crumrine Total Return Fund Inc. (NYSE:FLC) by 29.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 236,457 shares of the company’s stock after acquiring an additional 53,087 shares during the period. Advisors Asset Management Inc.’s holdings in Flaherty & Crumrine Total Return Fund were worth $4,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wolverine Asset Management LLC lifted its holdings in shares of Flaherty & Crumrine Total Return Fund by 185.4% in the second quarter. Wolverine Asset Management LLC now owns 4,193 shares of the company’s stock worth $71,000 after buying an additional 2,724 shares in the last quarter. Capital Investment Advisors LLC bought a new stake in Flaherty & Crumrine Total Return Fund in the 3rd quarter valued at $181,000. PNC Financial Services Group Inc. bought a new stake in Flaherty & Crumrine Total Return Fund in the 2nd quarter valued at $180,000. Cetera Investment Advisers purchased a new stake in Flaherty & Crumrine Total Return Fund in the 2nd quarter worth $199,000. Finally, Osaic Holdings Inc. lifted its stake in Flaherty & Crumrine Total Return Fund by 3.8% in the 2nd quarter. Osaic Holdings Inc. now owns 17,196 shares of the company’s stock worth $292,000 after purchasing an additional 629 shares in the last quarter.

Flaherty & Crumrine Total Return Fund Stock Performance

Shares of Flaherty & Crumrine Total Return Fund stock opened at $18.02 on Friday. The business has a 50-day moving average price of $17.58 and a 200-day moving average price of $17.51. Flaherty & Crumrine Total Return Fund Inc. has a twelve month low of $14.80 and a twelve month high of $18.08.

Flaherty & Crumrine Total Return Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 23rd will be issued a dividend of $0.1037 per share. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date is Thursday, April 23rd.

Flaherty & Crumrine Total Return Fund Company Profile

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.