Bank of America Corp DE Acquires 1,500 Shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO)

Bank of America Corp DE boosted its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) by 7.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,790 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. Bank of America Corp DE’s holdings in Flaherty & Crumrine Preferred Income Opportunity Fund were worth $196,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Invesco Ltd. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter worth approximately $113,000. Wells Fargo & Company MN raised its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 47.8% in the 4th quarter. Wells Fargo & Company MN now owns 33,668 shares of the company’s stock valued at $303,000 after buying an additional 10,886 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. lifted its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 77.1% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 39,919 shares of the company’s stock valued at $360,000 after acquiring an additional 17,377 shares in the last quarter. Independent Advisor Alliance bought a new position in Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter valued at $407,000. Finally, LPL Financial LLC boosted its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 29.9% during the 4th quarter. LPL Financial LLC now owns 49,630 shares of the company’s stock worth $447,000 after acquiring an additional 11,435 shares during the last quarter. Institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred Income Opportunity Fund Trading Down 0.9%

Shares of PFO stock opened at $9.07 on Monday. The firm has a 50-day moving average of $8.87 and a 200-day moving average of $9.04. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a one year low of $8.01 and a one year high of $9.54.

Flaherty & Crumrine Preferred Income Opportunity Fund Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 26th were given a $0.0512 dividend. This represents a yield of 6.81%. This is an increase from Flaherty & Crumrine Preferred Income Opportunity Fund’s previous dividend of $0.05. The ex-dividend date of this dividend was Friday, May 23rd.

Flaherty & Crumrine Preferred Income Opportunity Fund 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.