Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Short Interest Down 45.9% in February

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) saw a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 8,600 shares, a decline of 45.9% from the January 31st total of 15,900 shares. Based on an average trading volume of 30,700 shares, the days-to-cover ratio is currently 0.3 days.

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

Shares of Flaherty & Crumrine Preferred Income Opportunity Fund stock opened at $9.23 on Friday. The firm has a 50-day moving average of $9.12 and a 200-day moving average of $9.17. Flaherty & Crumrine Preferred Income Opportunity Fund has a 52-week low of $7.89 and a 52-week high of $9.54.

Flaherty & Crumrine Preferred Income Opportunity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a dividend of $0.0505 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.61 annualized dividend and a yield of 6.57%.

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

Several institutional investors and hedge funds have recently bought and sold shares of PFO. Sit Investment Associates Inc. lifted its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 85.4% during the fourth quarter. Sit Investment Associates Inc. now owns 542,802 shares of the company’s stock worth $4,891,000 after purchasing an additional 250,024 shares during the period. Noble Wealth Management PBC bought a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter worth about $755,000. Envestnet Asset Management Inc. lifted its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 205.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 116,029 shares of the company’s stock worth $1,045,000 after purchasing an additional 78,044 shares during the period. Ewing Morris & Co. Investment Partners Ltd. bought a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter worth about $682,000. Finally, Independent Advisor Alliance bought a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter worth about $407,000. Institutional investors own 12.90% of the company’s stock.

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.