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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PFO. Napa Wealth Management lifted its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 21.6% during the 3rd quarter. Napa Wealth Management now owns 97,047 shares of the company’s stock valued at $913,000 after purchasing an additional 17,255 shares during the last quarter. Noble Wealth Management PBC bought a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter valued at about $755,000. Jag Capital Management LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 3rd quarter worth about $120,000. Bank of America Corp DE lifted its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 7.4% during the 4th quarter. Bank of America Corp DE now owns 21,790 shares of the company’s stock worth $196,000 after buying an additional 1,500 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter worth about $97,000. 12.90% of the stock is currently owned by institutional investors.

Flaherty & Crumrine Preferred Income Opportunity Fund Trading Up 0.2 %

Shares of NYSE PFO traded up $0.02 during trading hours on Friday, hitting $9.23. The company had a trading volume of 30,844 shares, compared to its average volume of 26,619. Flaherty & Crumrine Preferred Income Opportunity Fund has a 1-year low of $7.89 and a 1-year high of $9.54. The firm’s 50 day moving average is $9.12 and its 200-day moving average is $9.17.

Flaherty & Crumrine Preferred Income Opportunity Fund Dividend Announcement

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

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.