Short Interest in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Rises By 64.0%

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

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

NYSE PFO opened at $9.16 on Monday. Flaherty & Crumrine Preferred Income Opportunity Fund has a 52 week low of $7.89 and a 52 week high of $9.54. The stock has a fifty day moving average of $9.15 and a 200-day moving average of $9.20.

Flaherty & Crumrine Preferred Income Opportunity Fund Dividend Announcement

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 $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 yield of 6.62%.

Institutional Trading of Flaherty & Crumrine Preferred Income Opportunity Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. grew its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 85.4% during the 4th quarter. Sit Investment Associates Inc. now owns 542,802 shares of the company’s stock worth $4,891,000 after buying an additional 250,024 shares during the period. Noble Wealth Management PBC bought a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter valued at approximately $755,000. Envestnet Asset Management Inc. grew its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 205.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 116,029 shares of the company’s stock worth $1,045,000 after acquiring an additional 78,044 shares during the period. Ewing Morris & Co. Investment Partners Ltd. bought a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter valued at $682,000. Finally, Independent Advisor Alliance bought a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter valued at $407,000. 12.90% of the stock is owned by institutional investors.

About Flaherty & Crumrine Preferred Income Opportunity Fund

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.