Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Short Interest Update

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 14,100 shares, an increase of 64.0% from the February 13th total of 8,600 shares. Based on an average daily volume of 29,200 shares, the days-to-cover ratio is presently 0.5 days.

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

PFO traded up $0.01 during trading on Friday, reaching $9.16. The stock had a trading volume of 10,933 shares, compared to its average volume of 34,543. The stock’s 50 day moving average is $9.15 and its two-hundred day moving average is $9.20. Flaherty & Crumrine Preferred Income Opportunity Fund has a one year low of $7.89 and a one year high of $9.54.

Flaherty & Crumrine Preferred Income Opportunity Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be paid a $0.0505 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.61 dividend on an annualized basis and a dividend yield of 6.62%.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Opportunity Fund

Institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter valued at $97,000. Invesco Ltd. bought a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter valued at about $113,000. Bank of America Corp DE lifted its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 7.4% in the fourth quarter. Bank of America Corp DE now owns 21,790 shares of the company’s stock valued at $196,000 after acquiring an additional 1,500 shares during the period. Wells Fargo & Company MN lifted its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 47.8% in the fourth quarter. Wells Fargo & Company MN now owns 33,668 shares of the company’s stock valued at $303,000 after acquiring an additional 10,886 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. lifted its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 77.1% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 39,919 shares of the company’s stock valued at $360,000 after acquiring an additional 17,377 shares during the period. 12.90% of the stock is owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred Income Opportunity Fund Company Profile

Flaherty & Crumrine Preferred Income Opportunity Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in stocks of companies operating in the financial services sector.