Napa Wealth Management Acquires 17,255 Shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO)

Napa Wealth Management raised its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) by 21.6% during the 3rd quarter, Holdings Channel reports. The fund owned 97,047 shares of the company’s stock after purchasing an additional 17,255 shares during the period. Napa Wealth Management’s holdings in Flaherty & Crumrine Preferred Income Opportunity Fund were worth $913,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Matisse Capital lifted its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 26.3% during the 2nd quarter. Matisse Capital now owns 177,623 shares of the company’s stock worth $1,504,000 after purchasing an additional 37,012 shares during the last quarter. Cetera Advisors LLC bought a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the first quarter worth about $187,000. Catalina Capital Group LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the second quarter valued at about $151,000. Apella Capital LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 2nd quarter valued at about $127,000. Finally, Jag Capital Management LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 3rd quarter worth approximately $120,000. 12.90% of the stock is currently owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred Income Opportunity Fund Trading Down 0.7 %

NYSE PFO opened at $9.05 on Monday. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a 52 week low of $7.54 and a 52 week high of $9.54. The company has a 50 day moving average price of $9.32 and a 200 day moving average price of $8.81.

Flaherty & Crumrine Preferred Income Opportunity Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.0505 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Flaherty & Crumrine Preferred Income Opportunity Fund’s previous monthly dividend of $0.05. This represents a $0.61 dividend on an annualized basis and a dividend yield of 6.70%.

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.