Flaherty & Crumrine Total Return Fund Inc

Flaherty & Crumrine Total Return Fund, Inc. is a closed-end investment fund. Its investment objective is to provide high current income for holders of its common stock. The company invests in traditional preferred stock, trust preferred securities, and hybrid securities that have characteristics of both equity, and debt securities. Flaherty & Crumrine Total Return Fund was founded on August 29, 2003 and is headquartered in Pasadena, CA.

Flaherty & Crumrine Total Return Fund, Inc. is a closed-end investment fund. Its investment objective is to provide high current income for holders of its common stock. The company invests in traditional preferred stock, trust preferred securities, and hybrid securities that have characteristics of both equity, and debt securities. Flaherty & Crumrine Total Return Fund was founded on August 26, 2003 and is headquartered in Pasadena, CA.

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PASADENA, Calif.--(BUSINESS WIRE)--The Boards of Directors of Flaherty & Crumrine Preferred and Income Fund Incorporated (NYSE: PFD), Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated (NYSE: PFO), Flaherty & Crumrine Preferred and Income Securities Fund Incorporated (NYSE: FFC), Flaherty & Crumrine Total Return Fund Incorporated (NYSE: FLC) and Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (NYSE: DFP) today announced that they have d.

PFD, PFO, FFC, FLC and DFP Announce May, June and July Dividends

Flaherty & Crumrine Total Return Fund has been negatively impacted by Fed rate hikes, causing borrowing costs to explode higher, while their portfolio was also hit by higher rates. FLC recently raised its distribution, and that provides a glimmer of hope that stabilization is taking place. The fund has a potentially brighter future moving forward, and the large discount present could be a further opportunity.

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January saw some mixed results in terms of sector performance, with real estate returning some of the gains they saw in the previous couple of months.

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We review CEF market valuation and performance through the fourth week of January and highlight recent market action. All sectors were up for the week, with MLPs and Preferreds leading the way. Investors should be wary in taking CEF total NAV returns at face value given various conventions and data issues.

CEF Weekly Review: Take Care With Total NAV Returns

PASADENA, Calif--(BUSINESS WIRE)--The Boards of Directors of Flaherty & Crumrine Preferred and Income Fund Incorporated (NYSE: PFD), Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated (NYSE: PFO), Flaherty & Crumrine Preferred and Income Securities Fund Incorporated (NYSE: FFC), Flaherty & Crumrine Total Return Fund Incorporated (NYSE: FLC) and Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (NYSE: DFP) today announced that they have de.

PFD, PFO, FFC, FLC and DFP Announce February, March and April Dividends

Flaherty & Crumrine Total Return Fund has suffered from multiple distribution cuts, resulting in a low forward yield of 6.81%. The FLC closed-end fund's share price has increased by 9.53% since the last article, outperforming the preferred stock index and bond index. The fund's exposure to the banking sector has increased, and its leverage remains high, posing risks for investors.

FLC: This Fund May Not Be Able To Sustain Its Recent Gains (Rating Downgrade)

PFD, PFO, FFC, FLC and DFP Announce December and January Dividends

PFD, PFO, FFC, FLC and DFP Announce November Distributions

Flaherty & Crumrine Total Return Fund has continued to face significant pressure from rising rates. FLC's share price has also been significantly impacted due to the fund's discount widening dramatically.

FLC: Higher Rates Continue To Pressure Preferreds But Discount Offers Potential

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 high current yield is attractive. FLC's leverage and distribution cuts may be concerning, but its current discount on net asset value makes it a reasonable investment option.

FLC: High-Risk, High-Reward Yield Play With This Preferred Stock CEF

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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 exceptionally cheap, with discounts wider than 99% of historical observations. The risk-reward in the taxable bond CEF space is on the downside, while the upside potential in municipal CEFs is significant, but dependent on a shift in Fed policy and inflation.

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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 lists provide shortlists for further research, not final buy or sell decisions.

The Chemist's Quality Closed-End Fund Report, August 2023

PFD, PFO, FFC, FLC and DFP Announce August, September and October Dividends

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

PFD Vs. FLC: Outlook For Preferred CEFs

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 on the year.

FLC: Regional Banking Crisis Exerts More Downward Pressure

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.

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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 preferred CEFs spiraling.

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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 for this fund.

FLC: Valuation Looking Attractive

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.

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Only funds with coverage >100% are considered. Top lists of discount, yield, DxY, and DxYxZ are given.

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My last article reviewed the Flaherty & Crumrine Preferred and Income Securities Fund. All five F&C CEFs are down and one suggested strategy was doing a tax-loss swap. While all five funds invest closely, I chose to review two as a possible replacement for those investors who do not want to wait out the 30-day "wash rule" period.

Possible Tax-Loss Trades For Flaherty & Crumrine CEFs

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We review CEF market valuation and performance through the last week of September and highlight recent market action. September was the worst month for CEFs since March of 2020, with a double-digit drop for the broader CEF space.

CEF Weekly Review: Rising Leverage Costs Remain A Headwind For Some Funds

PASADENA, Calif.--(BUSINESS WIRE)--The Boards of Directors of Flaherty & Crumrine Preferred and Income Fund Incorporated (NYSE: PFD), Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated (NYSE: PFO), Flaherty & Crumrine Preferred and Income Securities Fund Incorporated (NYSE: FFC), Flaherty & Crumrine Total Return Fund Incorporated (NYSE: FLC) and Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (NYSE: DFP) today announced that they have d

PFD, PFO, FFC, FLC and DFP Announce October and November Dividends

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Only funds with yields over 6.5%, coverage higher than 85%, and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

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News for Flaherty & Crumrine Total Return Fund Inc ETF (FLC)