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

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO – Get Rating) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 8,300 shares, a drop of 31.4% from the March 31st total of 12,100 shares. Based on an average trading volume of 27,200 shares, the days-to-cover ratio is currently 0.3 days.

Institutional investors and hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter valued at approximately $40,000. Oxbow Advisors LLC bought a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 3rd quarter valued at approximately $137,000. Stifel Financial Corp bought a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter valued at approximately $137,000. Bank of America Corp DE raised its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 30.6% during the 2nd quarter. Bank of America Corp DE now owns 12,111 shares of the company’s stock valued at $162,000 after purchasing an additional 2,837 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 3rd quarter valued at approximately $187,000. 7.03% of the stock is currently owned by institutional investors.

Shares of Flaherty & Crumrine Preferred Income Opportunity Fund stock opened at $10.36 on Friday. The stock’s 50-day simple moving average is $10.95 and its 200-day simple moving average is $11.85. Flaherty & Crumrine Preferred Income Opportunity Fund has a 52 week low of $10.35 and a 52 week high of $13.73.

The firm also recently announced a monthly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 22nd will be paid a dividend of $0.0655 per share. This represents a $0.79 annualized dividend and a yield of 7.59%. The ex-dividend date of this dividend is Thursday, July 21st.

Flaherty & Crumrine Preferred Income Opportunity Fund Company Profile (Get Rating)

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.

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