5 Best Dividend Stocks to Buy According to Frank Fu’s CaaS Capital

1. Orchid Island Capital, Inc. (NYSE: ORC)

Fu’s Stake Value: $1,002,000
Percentage of Frank Fu’s 13F Portfolio: 0.01%
Dividend Yield: 15.31%
Number of Hedge Fund Holders: 8

Orchid Island Capital, Inc. (NYSE: ORC) is an American finance company, which invests in residential mortgage-backed securities. It was founded in 2010 and ranks first on the list of 10 best dividend stocks to buy according to Frank Fu’s CaaS Capital. Orchid Island Capital, Inc. (NYSE: ORC) gained about 17.16% over the last 12 months.

On June 23, Orchid Island Capital, Inc. (NYSE: ORC) and Bimini Advisors declared that they have entered into an equity distribution deal with J.P. Morgan Securities LLC, JMP Securities LLC, JonesTrading Institutional Services LLC, and MUFG Securities Americas Inc. According to the agreement, Orchid Island Capital, Inc. (NYSE: ORC) may offer and sell a total amount of $250 million of shares of the common stock, at $0.01 per share. On June 15, Orchid Island Capital, Inc. (NYSE: ORC) reported a monthly dividend of $0.065 per share, in line with the previous. On April 29, Orchid Island posted net interest income of $24.9 million, up 30.0% YoY, beating the estimates by $3.31 million.

The stock is a new arrival on Frank Fu’s portfolio, as his hedge fund bought about 166,766 shares of the company, worth over $1 million. Two Sigma Advisors, with 1.42 million shares, is the biggest stakeholder in Orchid Island Capital, Inc. (NYSE: ORC).

You can also take a peek at 10 Best Dividend Stocks for Long Term and 10 Best Dividend Stocks to Buy According to Billionaire Howard Marks.

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