Flaherty & Crumrine Total Return Fu... (FLC)

The Flaherty & Crumrine Total Return Fund is a fixed-income fund that primarily invests in preferred stock. The fund has experienced disappointing performance due to rising interest rates, but its hig...

Taxable closed-end fund discounts have narrowed, reducing their attractiveness, while credit spreads have tightened, producing returns in some areas of the CEF market. Municipal CEFs remain exceptiona...

Quantitative screens narrow down attractive closed-end funds for further investigation. "Quality" report focuses on funds with >100% distribution coverage to lower the risk of distribution cuts. Top l...

We had suggested a trade for these two preferred CEFs from Flaherty and Crumrine. We examine where that stands today and update that recommendation.

Flaherty & Crumrine Total Return Fund is a fixed income closed-end fund. The CEF focuses on financials preferred equity, and is down roughly -10% year to date, while the unleveraged fund PFF is flat o...

We review CEF market valuation and performance through the last week of April and highlight recent market action. CEFs had a strong week to claw back some losses and finish April broadly flat.

Preferreds Opportunity: Assessing The Carnage, What's Been Thrown Out With The Bathwater

Today, I wanted to take a broader look at the preferred closed-end fund space. After struggling for most of the last year due to rapidly-rising interest rates, the latest banking failures sent preferr...

FLC has begun to trade at a discount, which this fund has rarely done since the GFC. With the pace of interest rate increases expected to slow, most of the damage we experienced in 2022 should be done...

Flaherty & Crumrine family has delivered strong risk adjusted returns for preferred shares. We examine two of their funds today and see where they stand relative to each other.